It is observed that most long steel prices in Iberian Peninsula have decreased in the current week due to the weakness of demand.
While domestic merchant bar and beam prices in Spain and Portugal have fallen by around €5/mt in the given period, domestic rebar prices have declined by an average of €7.5/mt week on week and are currently in the range of €500-505/mt ($570-576/mt) delivered to customer, depending on tonnages.
Although scrap prices in the region have not indicated any change in the current week, the weakness of demand is believed to the main reason for the fall in domestic long steel quotations.
€1 = $1.14