According to market sources, Spanish rebar offers to the export markets have decreased by €5/mt over the past week to €370-375/mt ($414-420/mt) FOB, for October shipment. Market sources state that it is difficult for overseas buyers to conclude bookings for European rebar due to the strengthening of the euro and so they prefer to wait and observe the market situation, and this has resulted in low transaction activity. Even in Algeria, which is one of the main markets for European rebar exporters, buyers are seeking to reduce their bookings of imported rebar, focusing instead on meeting their needs from their domestic market.
Meanwhile, Italian rebar offers to the export markets have also decreased by €5/mt in the same period to €370-375/mt ($414-420/mt) FOB, for September shipment.
€1 = $1.12