Spanish producers have been offering Spanish origin 12 mm B500S rebar to the local market at €580-590/mt ($863-878/mt) ex-works on actual weight basis with 30-day deferred payment, excluding VAT.
Despite the fact that the producers in the local Spanish rebar market increased base prices to €360-370/mt ($536-550/mt), it is possible to see some sales in the market at €20/mt ($30/mt) lower than the price level in question. It would be difficult to describe end-user demand as being very strong at the moment. In spite of this, the producers' price increases have been accepted in the market since distributors' stocks are at low levels. In addition, the Spanish producers are planning to increase their extras at the end of February.