Over the past week, Spanish steel producers’ rebar offers to the export markets have remained stable at €480-490/mt ($590-603/mt) FOB, while demand for Spanish rebar in the European market has continued to be characterized by sluggishness. Due to the ongoing cautiousness in European markets as a result of the 25 percent duty imposed on imported steel in the US, European demand for Spanish rebar, which was already weak, has declined further and buyers have continued to make purchases only to meet their immediate needs.
€1 = $1.23