Last week, SteelOrbis reported that domestic rebar prices in Portugal and Spain were at €495/mt ($554/mt) delivered to customer and €490/mt ($549/mt) delivered to customer, respectively. It is observed over the past week that these price levels have failed to gain acceptance from buyers in the region.
It is also seen that even the end of the holidays in Europe has not been enough to revive rebar demand in the Iberian Peninsula, and so domestic rebar prices in the region have started to move down. It is heard that rebar deals in Portugal and Spain are being concluded below the levels of €490/mt ($549/mt) delivered to customer and €485/mt ($543/mt) delivered to customer, respectively.
€1 = $1.12