It is observed that Spanish rebar producers’ export offers have remained unchanged over the past week.
Spanish rebar export prices have moved upwards until last week as the downward pressure on prices came to a halt with the rises seen in scrap quotations and the exhaustion of the quota the European Union imposed on import rebar. However, most buyers in the international markets have maintained a wait-and-see stance in the current week as the new Spanish rebar export prices were considered to be on the high side, and also due to the falling trend of scrap quotations.
As a result of the weakness of demand, Spanish rebar producers have not increased their export offers further, instead choosing to keep their prices stable at €485-495/mt ($553-564/mt) FOB.
€1 = $1.14