Domestic rebar prices in Spain have remained stable over the past week at €510-520/mt ($576-588/mt) delivered to customer. Market sources expect Spanish rebar mills to increase their domestic rebar offers as the downward pressure from imports has disappeared after the EU’s quota on rebar imports from Turkey was filled in previous weeks. However, domestic rebar prices in Spain have so far failed to move up in line with this expectation, due to lower scrap quotations, lower offers from traders, and the weakness of domestic rebar demand.
€1 = $1.13