Spanish mills reduce rebar prices amid poor demand

In this week's Spanish domestic rebar market prices have continued to soften due to poor demand. Accordingly, domestic rebar market prices have decreased by €5/mt ($7/mt) as compared to last week, declining to €535/mt ($731/mt) on actual weight basis, for deliveries to customer.
 
In the meantime, Spanish mills' rebar export offers are still standing at €500/mt ($683/mt) FOB, remaining unchanged as compared to last week. Offers €5/mt lower are also available in the market. However, with the euro holding firm against the US dollar, buyers in the Spanish rebar mills' export markets are still quiet.
 
On the other hand, Spanish mills' rebar offers to Portugal have decreased by €10-15/mt ($14-21/mt) as compared to last week to €550-555/mt ($751-758/mt) on actual weight basis for deliveries to customer and for 60-day deferred payments.  In line with the sluggishness seen in the Portuguese construction industry, prices are anticipated to further soften in the coming period.
 
€1 = $1.37