Spanish producers have been offering Spanish origin 12 mm B500S rebar to the local market at around €600-620/mt ($934-966/mt) ex-works on actual weight basis with 30-day deferred payment, excluding VAT.
Spanish producers have increased their extras by approximately €30/mt ($47/mt) as of March 12. No change has been seen in the base prices compared to last week, and so they are still in the range of €350-370/mt ($545-576/mt). Demand continues to lack strength in the local Spanish rebar market; however, the activity seen in the international markets and in the strong Spanish export market is causing rebar prices in Spain's domestic market to go up.
On the other hand, the latest export deals concluded last week were at the levels of €545/mt ($849/mt) FOB. Spanish producers were pushing for above €550/mt ($857/mt) FOB early this week. However, it is expected that they will hike their offer prices in the export market after the considerable increases seen in the local Spanish market.