Portugal-based long steel producers have chosen to decrease their export rebar offers significantly last week, aiming at get more orders from the European buyers. Latest rebar offers from the mills have been reported at €390-395/mt FOB, decreasing by around €25-30/mt within the past week. In particular, customers from Belgium have been receiving offers at €420/mt CFR versus €445/mt CFR, seen earlier. The product is available for end of May and June shipment, SteelOrbis understands.
In the wire rod segment, offers from Portugal for small lots of 5.5 mm product to Spain are at €460/mt DDP for May-June production, while by the end of last week the offer was dropped to €435/mt DDP. According to SteelOrbis estimates, the level corresponds to around €420-425/mt FOB Portugal.