Spanish mills push up domestic rebar offers

SteelOrbis has learned from market sources that rebar demand in the Spanish domestic market is still low and local mills have increased their rebar base prices by €10-15/mt ($15-22/mt) over the previous week to €300/mt ($439/mt) ex-works. In the meantime, despite sluggish local demand, mills prefer to supply rebar to the domestic market at €565/mt ($827/mt) on actual weight basis, rather than exporting.
 
On the other hand, the rebar export offers of Spanish mills are standing at €510-515/mt ($747-754/mt/mt) FOB on actual weight basis, while these producers' offers to the Algerian market have remained unchanged at €535/mt ($783/mt) CFR, despite mills' efforts to push them slightly up.
 
€1 = $1.463