According to market sources, rebar offers from Spain to the export markets have remained in the range of €415-425/mt ($527-540/mt) FOB over the past week.
Meanwhile, Spanish rebar offers to Algeria are standing in the range of €440-450/mt ($559-572/mt) CFR, indicating no change compared to last week. Demand for Spanish rebar in Algeria, Spain's most important rebar export market, has been weak for a while now but has started to improve in the current week, while new transactions have been heard at these price levels. Algerian buyers expect Spanish rebar offers to decline to €410/mt ($525/mt) FOB, while Spanish rebar producers are reluctant to lower their prices for now.
€1= $1.27