It is observed that demand for Spanish rebar exports in the international markets have softened over the past week and is still at low levels. Market sources state that Spanish rebar producers are still receiving demand from the US. But it is seen that US buyers do not conclude import rebar purchases since Mexico and Canada can be exempted from the US’ Section 232 tariffs and also due to the possible fall in the 50 percent tariff on steel imports from Turkey to 25 percent.
On the other hand, Spanish rebar producers’ export offers to the US are currently at €470-475/mt ($536-542/mt) FOB, while their offers to other export markets are still in the range of €490-500/mt ($559-570/mt) FOB.
€1 = $1.14