It is observed that demand for domestic rebar in Spain has been at low levels over the past week. Considering the current price range to be on the high side, Spanish buyers have exerted downward pressure on prices. In return, Spanish rebar producers have accepted reductions in their profit margins, decreasing their domestic quotations by an average of €10/mt week on week to €520-530/mt ($608-620/mt) delivered to customer. Following this fall in mills’ rebar prices, demand has revived slightly, though it has not indicated a serious rise.
€1 = $1.17