SteelOrbis has been informed that Spanish rebar producers have revised their domestic offers downwards over the past seven days to stimulate domestic demand. Following this revision in prices, Spanish rebar buyers have restarted their price inquiries. On the other hand, market sources report that Spanish rebar producers are focusing on their domestic markets amid weaker international demand.
Under the current circumstances, Spanish mills’ domestic rebar quotations have decreased by €15/mt on the lower end and by €10/mt on the upper end week on week to €490-500/mt ($588-600/mt) delivered to customer.
€1 = $1.20