It is observed that demand for Spanish rebar in the US is still strong, while most Spanish rebar exporters are seen to be completely focusing on the US market. However, SteelOrbis has also been informed that Spanish rebar mills are worried amid the approaching May 1 deadline for the expiry of the temporary exemption from the 25 percent Section 232 tariff on import steel in the US and also due to the ongoing weak demand for Spanish rebar in their main export market, Algeria. Over the past week, Spanish rebar export prices have remained stable at €490-500/mt ($608-620/mt) FOB.
€1 = $1.24