It is observed that some buyers in the Spanish rebar market have not yet returned from the Easter holiday, though those who have returned consider current domestic rebar prices to be on the high side and are postponing their purchases. On the other hand, despite the weakness of demand, Spanish steel mills have kept their domestic rebar offers stable week on week at €520-530/mt ($634-647/mt) delivered to customer.
Market sources state that Spanish rebar producers are expected to take advantage of their lower production costs resulting from the declines seen in global scrap prices and reduce their domestic rebar offers slightly to stimulate sales.
€1 = $1.22