Spanish rebar offers to the international markets have moved sideways over the past week. Despite the sustained high levels of scrap quotations, Spanish rebar producers have decided not to further raise their export offers due to the weakness of global demand, and so their rebar export prices are still at €485/mt ($548/mt) FOB.
Meanwhile, it is noteworthy that Spanish rebar producers are performing very well in the US market and have significantly increased their share in the US as compared to previous years since Turkish mills cannot conclude sales to the country because of the 50 percent Section 232 duty.
€1 = $1.13