It is observed that domestic rebar demand in Spain has remained at low levels after the initiation of the new import quotas on rebar. Market sources state that buyers prefer import rebar instead of domestically produced products due to the more attractive prices, while this situation is exerting pressure on domestic rebar quotations. On the other hand, Spanish rebar producers’ costs have risen due to higher domestic and import scrap quotations, and so they have resisted the pressure from imports, keeping their domestic rebar prices stable week on week. As a result, domestic rebar prices in Spain have remained at the range of €510-520/mt ($576-588/mt) delivered to customer.
€1 = $1.13