Spanish rebar producers are focusing on their domestic sales amid livelier demand as compared to the export markets, while they also do not have enough time to complete exports due to approaching summer holiday period. As a result, deals have been heard in the local Spanish rebar market over the past week.
Meanwhile, as buyers consider the current levels of Spanish rebar export offers to be on the high side, international demand for Spanish rebar has weakened somewhat, while most of the demand has been from European Union countries and the Middle East. Despite weaker international demand, Spanish rebar producers have kept their export offers stable week on week with the support provided by their domestic sales. Market sources state that Spanish rebar producers are still making export sales at €490-500/mt ($573-585/mt) FOB.
€1 = $1.17