Over the past week, demand in the local Spanish rebar market has remained weak as buyers’ inventories have been on the high side. Despite the weakness of demand, Spanish rebar producers have increased their prices by €20/mt week on week to €520-530/mt ($588-599/mt) delivered to customer, since their production costs are still high amid strong raw material prices. However, buyers are in no rush to make bookings amid their high inventories and are exerting downward pressure on prices. As a result, increased prices levels in the local Spanish rebar market have not gained acceptance yet.
€1 = $1.13