Demand in the local Spanish rebar market has continued to be characterized by weakness during the past week. Market sources report that some market players are staying on the sidelines due to the ongoing summer holidays, and so trading activity in the market is slow. On the other hand, domestic rebar prices in Spain have increased despite the weakness of demand, moving up by €10/mt week on week to €520-530/mt ($603-615/mt) delivered to customer. According to market sources, the rise in domestic rebar prices is due to the lower supply volume resulting from maintenance works during the traditional summer holiday season. Additionally, SteelOrbis has been informed that demand in the local Spanish rebar market is not expected to revive in the coming period due to ongoing summer holidays.
€1 = $1.16