In the Spanish domestic long steel market, producers' rebar quotations are still at €555-565/mt ($733-746/mt) delivered to customer, on actual weight basis, reflecting no changes since last week. Demand is still sluggish in the local Spanish market, just as in previous weeks. While listed prices have not been reduced officially, in actual transactions prices below this range have been seen.
Ongoing economic uncertainty in the euro zone has negatively affected the local Spanish rebar market and buyers are anxious to avoid taking big risks with new transactions.
This week, Spanish rebar offers to the export market are standing at €515-520/mt ($680-686/mt) FOB on actual weight basis, though no large order has been heard lately from Algeria, since Algerian demand has maintained its quiet trend of previous weeks. In the meantime, Spanish rebar offers to Portugal are at €550-560/mt ($726-739/mt) ex-works on actual weight basis, for 60-day deferred payments. However, Portuguese rebar demand is still fairly sluggish.
€1 = $1.32