Domestic rebar prices in Spain have moved sideways during the past week at €510-520/mt ($597-608/mt) ex-works, while demand in the local Spanish rebar market has remained at low levels. On the other hand, the volume of domestic rebar offers has declined during the given week amid the production cuts resulting from the ongoing maintenance works of some Spanish rebar producers. This fall in domestic rebar supply in Spain has prevented any possible downward movement in prices. Meanwhile, Spanish rebar mills expect domestic quotations to increase after the traditional summer holidays since the European Union announced quotas for import steel on July 18.
€1 = $1.17