Markets sources state that Spanish
rebar export offers have declined by €5/mt ($7/mt) over the past week and are now at €445-455/mt ($610-623/mt) FOB. In addition, Spanish
rebar offers for
Algeria can be found at €473/mt ($648/mt) CFR, indicating a decline of €10/mt ($14/mt) over the past two weeks, while Turkish steel group
Tosyali's Algerian subsidiary is offering
rebar in the local Algerian market are at €475/mt ($651/mt) ex-works.
As
rebar prices in the global markets are on the decline, buyers in the target markets prefer to wait, causing demand to remain on the weak side.
€1 = $1.37