Spanish producers’ rebar offers to the international markets have increased by €5/mt week on week to €460-465/mt ($520-525/mt) FOB. According to market sources, Spanish rebar quotations have moved up due to the already started or upcoming maintenance works of several Spanish mills, which have caused a decline in supply.
It is observed that, with support from lower supply, Spanish rebar exporters have focused on markets such as the US where they expect to conclude sales of larger tonnages at higher price levels, while they are not showing interest in sales to other markets which have been asking for lower prices.
On the other hand, domestic 12-32 mm rebar prices in Spain have also increased by €5/mt over the past week and are currently in the range of €475-480/mt ($537-542/mt) ex-works.