International demand for Spanish rebar has not changed over the past week and is still at low levels. It is observed that Spanish rebar exporters’ offers to international markets have moved sideways week on week at €480-490/mt ($562-573/mt) FOB.
Market sources state that Algerian buyers’ firm bids are lower than Spanish rebar exporters’ offers, and so demand for Spanish rebar in Algeria is still slow.
On the other hand, members of the European Trade Commission state that negotiations with the US have been accelerated, though still no agreement has been reached. SteelOrbis has been informed that US President Trump has offered an import quota to the European Union countries which would lead to a ten percent reduction in Europe’s steel exports to the US, but the European Trade Commission is known to have declined the offer. As a result, the negotiations between the EU and the US are still continuing.
€1 = $1.17