Buyers in the international rebar market continue to exert downward pressure on prices. Spanish rebar producers have kept their export offers stable over the past week at €460-465/mt ($520-525/mt) FOB. Market sources state that foreign buyers’ firm bids for Spanish rebar exports are at €450-455/mt ($509-514/mt) FOB. On the other hand, Algeria stands out among Spanish rebar mills’ target markets due to the volume of its price inquiries for Spanish rebar.
Meanwhile, domestic 12-32 rebar prices in Spain have remained stable during the past week and are still at €485-490/mt ($548-554/mt) ex-works. However, buyers’ firm bids are now at €485-490/mt ($548-554/mt) delivered to customer. The maintenance works of some Spanish producers, which are planned for July, are expected to last approximately three weeks.
€1 = $1.13