It is observed that trading activity in the local Spanish rebar market has slowed down as some market players have left the market due to traditional summer holidays. Meanwhile, market sources state that demand for Spanish rebar in the global market has been at low levels during the past week.
SteelOrbis has been informed that Spanish rebar mills, which still continue business, have increased their export offers by €10/mt week on week to €510-520/mt ($592-603/mt) FOB. The €10/mt rise seen in prices has not been attributed by demand, but the tightness in supply resulting from the summer stoppages of Spanish mills is the reason of this increase in Spanish rebar export quotations.
€1 = $1.16