International demand for Spanish rebar has remained at low levels over the past week. Market sources state that Spanish rebar producers are sharing rebar offers with US buyers but no new deal has been heard yet. On the other hand, since they have been receiving weak demand from their target markets, Spanish rebar mills are putting downward pressure on scrap quotations, seeking to reduce their productions costs in order to be able to conclude sales to the US market. Meanwhile, Spanish rebar export offers have remained stable week on week at €510-520/mt ($597-608/mt) FOB.
€1 = $1.17