Spanish mills fail in bid to raise rebar export offers

SteelOrbis has learned from market sources that rebar demand in the Spanish domestic market is still low and local mills have maintained their rebar base prices at €300/mt ($433/mt) ex-works. In the meantime, despite sluggish local demand, mills prefer to supply rebar to the domestic market at €565/mt ($815/mt) on actual weight basis, rather than exporting.
 
On the other hand, the rebar export offers of Spanish mills are standing at €515-520/mt ($743-750/mt/mt) FOB on actual weight basis, despite mills' efforts to push them up slightly to €520-525/mt ($750-758/mt) FOB. In the meantime, these producers' offers to the Algerian market, where some demand is seen, stand at €535-540/mt ($772-779/mt) CFR.
 
€1 = $1.443