As demand for long steel has remained at weak levels in Spain and Portugal, long steel prices have fallen further in the current week.
While rebar prices in Portugal have decreased to €495/mt ($554/mt) delivered to customer, SteelOrbis has been informed that rebar quotations in Spain have declined as low as €490/mt ($549/mt) delivered to customer. While the weakness of demand in the European Union has caused an overall fall in long steel prices, it is also increasing the downward pressure on quotations.
€1 = $1.12