According to market sources, Spanish rebar offers to the export markets have declined by €5/mt ($6/mt) on average over the past week to the range of €415-420/mt ($465-470/mt) FOB, for July shipment.
Meanwhile, Italian rebar offers to the export markets have also declined by €5/mt ($6/mt) over the past week to the range of €415-420/mt ($465-470/mt) FOB, for July shipment. Market sources state that transactions at the top end of this range are becoming fewer and buyers' firm bids are at €410/mt ($459/mt) FOB, while transaction activity even to Algeria, Italian exporters' main export market, has slowed down ahead of Ramadan.
€1 = $1.12