Spanish producers signal rebar price hike

The price level of AENOR-certificated 12 mm rebar in the local Spanish market is at around Euro 490/mt delivered to warehouse, excluding VAT. Currently, base prices are at around Euro 310/mt. In December, producers hiked their prices by Euro 20/mt. Nevertheless, buyers were able to conclude bookings from some producers at the old prices. As of the New Year, buyers are unable to conclude bookings at the old prices and can now only conclude purchases at Euro 480-485/mt, delivered to warehouse. Producers have informed the buyers that they may hike their prices by Euro 20/mt by the end of this month. However, certain buyers think that even if the prices are hiked, these increases will not be reflected in the market immediately and they will be able to conclude purchases at prices prior to this planned price increase.