Markets sources state that ex-
Spain rebar offers have remained stable since last week at €450-455/mt ($608-614/mt) FOB. Sources state that it is also possible to hear ex-
Spain rebar offers at €445/mt ($601/mt) FOB, while Algerian buyers have remained cautious for now, preferring to postpone their
rebar purchases from
Spain. The latest
rebar deal from
Spain to
Algeria has been concluded at €475-480/mt ($641-648/mt) CFR.
In the meantime, after the US Federal Reserve's decision not to taper its bond-buying program, the euro has kept increasing in strength against the US dollar and this rise has been putting European mills in a difficult position. Meanwhile, the European
rebar market has been focusing on the federal elections in Germany.
€1 = $1.35