Last week, Spanish mills' domestic
rebar prices continued their sideways trend of the previous two weeks, remaining at €555-565/mt ($733-746/mt) on actual weight basis, for deliveries to customer. However, although mills have not reduced their prices officially, SteelOrbis has learned that some actual transactions have been concluded at discounted price levels.
Due to the ongoing instability in the European economy and some liquidity issues,
rebar demand in
Spain has remained slack and buyers have continued to be cautious as regards concluding new transactions.
Last week, Spanish mills'
rebar export offers were standing at €510/mt ($673/mt) FOB, though mills have again witnessed little demand in their export markets.
In the meantime,
Portugal-based Spanish
rebar producers'
rebar offers to the Portuguese domestic market are at €550-560/mt ($726-739/mt) ex-works on actual weight basis, for 60-day deferred payments, though the Portuguese
rebar market is reported to be sluggish. Meanwhile,
rebar market prices in
Portugal are at €550/mt ($726/mt) ex-warehouse, remaining unchanged as compared to the previous week. However, amid weak domestic
rebar demand in the country, it is thought that transactions may be concluded at lower price levels.
€1 = $1.32