According to market sources, Spanish rebar offers to the export markets have decreased by €40/mt over the past three weeks to €310-315/mt ($350-356/mt) FOB, for November shipment. Spanish rebar exporters state that they have had to revise their prices downwards due to decreasing scrap prices and due to ongoing weak demand.
Meanwhile, Italian rebar offers to the export markets have also decreased by €40/mt in the same period to €310-315/mt ($350-356/mt) FOB, for November shipment. Market sources state that demand for Italian rebar is very weak in North Africa and Europe and has nearly ground to a halt this week.
€1 = $1.13