This week in the local Spanish market, mills' rebar offers to the domestic market are standing at €530-540/mt ($668-680/mt) delivered to customer, while Spanish mills' rebar export offers are at €500/mt ($630/mt) FOB. However, export offers may decline below the level in question for high tonnage purchases.
Rebar price levels in the Spanish domestic market have been affected by factors such as the debt crisis in the euro zone, fluctuations in the euro-dollar exchange rate and uncertainty surrounding Greece's membership of the euro zone. Furthermore, rebar demand is not likely to show improvement given the ongoing financial difficulties in Spain, while buyers are still concluding deals just to meet their urgent needs.
€1 = $ 1.26