Rebar price up in Spanish market

The price level of AENOR-certificated 12 mm rebar in the local Spanish market is at around €600/mt delivered to warehouse, excluding VAT. The mills have raised the thickness extras by €50/mt as of March 1, 2007, just as they announced in February. Base prices also rose by €10/mt compared to two weeks ago, now ranging €370-380/mt. A two to three percent discount is being applied for early payment orders (within 30 days). Mills are not able to conclude much sales as the trading firms built up their stocks ahead of the price increases. However, new purchases may begin in mid-March with the reduction in the stocks of the trading firms.