It is observed that demand in the local Spanish rebar market has been sluggish over the past week. Market sources state that buyers are unwilling to conclude new domestic rebar deals before the implementation of the EU’s new import quotas as of February 3 as import rebar prices are more attractive for now. Meanwhile, despite higher scrap quotations, Spanish rebar producers have kept their domestic offers stable week on week at €510-520/mt ($576-588/mt) delivered to customer due to the weakness of demand.
€1 = $1.13