Spanish producers have been offering Spanish origin 12 mm B500S rebar to the local market at around €570-590/mt ($864-894/mt) ex-works on actual weight basis with 30-day deferred payment, excluding VAT.
The demand is still at low levels in the Spanish market. The Spanish producers have increased their base prices by €10/mt ($15/mt) this week, and so base prices in Spain are now at €350-370/mt ($531-561/mt). Despite the fact that a price level of €340/mt ($516/mt) is being reported, it is expected that the level in question will disappear.
The strong international price levels and the upward movement of the export prices in the Spanish market are facilitating the Spanish producers' bid to raise their prices.