SteelOrbis has been informed that demand for Spanish rebar in Algeria -Spanish exporters’ main target market - is still weak. Meanwhile, Spanish rebar exporters continue to negotiate their exemption from the 25 percent Section 232 tariff imposed on import steel in the US, another important export market for Spanish rebar suppliers. According to market sources, both Spanish exporters and US-based buyers will maintain their wait-and-see strategy until meetings between their governments have produced an outcome. Meanwhile, Spain’s rebar export offers have remained stable week on week in the range of €480-490/mt ($566-578/mt) FOB.
€1 = $1.18