Rebar quotations on downward trend in Portuguese market

As SteelOrbis has heard from market insiders, rebar quotations had remained unchanged at €545/mt ($687/mt) delivered to customer in the three weeks before the current week in the Portuguese domestic market, while demand had remained sluggish. However, turning to this week, rebar offers from Spain to the Portuguese domestic market have declined by €10/mt ($13/mt) as compared to last week under the influence of the softening in scrap quotations and are currently at the level of €535/mt ($674/mt) for delivery to customer, on actual weight basis and for 60-day deferred payments.
 
The Portuguese and Spanish rebar markets have been affected negatively by the debt crisis in the euro zone, while buyers are avoiding the risks involved in purchase activities.   
 
€1 = $1.26