Market sources state that demand for Spanish rebar in the US has increased since Spanish rebar is exempted from the 25 percent Section 232 import tariff until May 1. It is also reported that the US is importing rebar from other European countries. Amid better weather conditions, construction activities in the US have accelerated, contributing to the stronger US demand for Spanish rebar. As a result, Spanish rebar mills have increased their export prices by an average of €15/mt week on week to €490-500/mt ($603-615/mt) FOB.
On the other hand, demand for Spanish rebar in Algeria, one of the main export markets for Spanish rebar, is still weak.
€1 = $1.23