It is observed that buyers in the local Spanish rebar market already have high inventory levels due to previous purchases, and so they are now exerting pressure on domestic rebar prices. On the other hand, the ongoing high levels of import scrap quotations are still impacting Spanish producers’ rebar production costs. As a result, Spanish mills are unwilling to reduce their domestic rebar quotations. Accordingly, domestic rebar prices in Spain have remained stable week on week at €500-510/mt ($570-581/mt) delivered to customer.
€1 = $1.14