Amid lower production costs resulting from the decreases recorded in billet and scrap quotations, Spanish rebar producers have reduced their export offers by an average of €7.5/mt week on week to €480-485/mt ($547-553/mt) FOB.
On the other hand, market sources state that international demand for Spanish rebar has remained weak, and so buyers are waiting for a further fall in prices.
€1 = $1.14