SteelOrbis has been informed that Spanish mills are offering rebars to their local market at price levels of €410-420/mt ($558-571/mt) delivered to customer on actual weight basis. Meanwhile, the Spanish mills are offering the same material to the export markets in a price range of €385-400/mt ($524-544/mt) FOB for late October/early November shipment.
End-user demand in the local Spanish rebar market is currently low. Offer price levels are declining in the local and export market in Spain due to following factors: softening rebar prices under the influence of the global financial crisis, lack of demand and lack of confidence in the overall markets.
€1 = US$1.36