Demand in the local Spanish rebar market has continued to be characterized by weakness over the past week. The downward pressure exerted on domestic rebar prices by buyers has been successful, and so Spanish rebar producers have reduced their prices by €10/mt week on week to €510-520/mt ($597-608/mt) delivered to customer.
Market sources state that the import rebar offers given to Spain at €462-466/mt ($541-545/mt) CFR have led Spanish producers to give up some of their profit margins. Only 24 percent of the quota initiated by the European Union (EU) on rebar imports until February 3, 2019, is filled, and so European countries can import 545,561 mt of rebar in the coming period.
€1 = $1.17