Spanish buyers are observed to be continuing to conclude domestic rebar purchases to complete their inventories before the summer holidays which will extend for two to four weeks in July or August, depending on the producer and the region. Meanwhile, due to lower inventories, Spanish rebar mills have increased their domestic offers by €20/mt week on week to €510-520/mt ($597-608/mt) delivered to customer. Market sources do not expect a further change in domestic rebar prices in the short term due to the approaching holiday season.
€1 = $1.17