It is observed that trading activity in the local Spanish rebar market has accelerated slightly over the past week. Market sources report that lower water levels of rivers used for transportation in Europe has increased freight costs in the region. As import rebar threats have ceased in Spain, local rebar mills are receiving higher demand from their domestic markets. Due to strong domestic rebar demand, Spanish rebar producers have kept their domestic offers stable week on week to €500-510/mt ($580-592/mt) delivered to customer.
€1 = $1.16