Demand from Algerian buyers for Spanish rebar remains weak

According to market sources, rebar offers from Spain to the export markets have decreased by €10/mt ($13/mt) over the past week and are now at €415-425/mt ($531- 544/mt) FOB.
 
Ex-Spain rebar offers to Algeria have also declined by €10/mt ($13/mt) since last week to €440-450/mt ($563-576/mt) CFR. Demand for Spanish rebar in Algeria, Spain's most important rebar export market, has been weak for a while now and has failed to improve after the Feast of Sacrifice holiday. Algerian buyers expect Spanish rebar offers to decline to €410/mt ($525/mt) FOB, while they are postponing their purchases due to the gradual declines in rebar prices.
 
€1 = $1.28