Demand in the local Spanish rebar market has once again remained at low levels in the current week. Market sources state that Spanish rebar producers have kept their domestic offers stable week on week at €510-520/mt ($576-588/mt) delivered to customer due to the weakness of demand. Additionally, SteelOrbis has been informed that buyers are prioritizing import rebar purchases following the new import quota opened by the European Union (UE) on February 2, while they are exerting pressure on domestic rebar prices as they consider them to be on the high side.
€1 = $1.13