According to market sources, Spanish rebar export offers have remained stable over the past week at €425-430/mt ($531-538/mt) FOB, while Spanish rebar offers to Algeria have also trended sideways over the same period at €450/mt ($563/mt) CFR. Having receiving weak demand from Algerian buyers for a while, demand situation for Spanish rebar in the region has not recorded any improvement this week due to the Feast of Sacrifice holiday. Algerian buyers are expected to accelerate their negotiations with Spanish exporters after the holiday and they will likely obtain offers from Spanish mills at €445-448/mt ($556-560/mt) CFR.
€1 =$1.25