In the Spanish domestic rebar market, demand is low due to the summer holiday, while local rebar prices stand at €560-570/mt ($806-821/mt) on actual weight basis, for deliveries to customer. Spanish mills' rebar export offers have also remained unchanged and are still at €510-515/mt ($734-742/mt) FOB. Although Algerian buyers are still making inquiries to Spanish mills, these buyers have not started their purchases yet, due to Ramadan. The latest rebar offers from Spanish mills to Algeria were at €535-540/mt ($770-778/mt) CFR on actual weight basis.
In Portugal, rebar demand continues to be very weak and domestic prices are following a sideways trend. Spanish mills' rebar offers to Portugal still stand at €580-585/mt ($835-842/mt) on actual weight basis for deliveries to customer and for 60-day deferred payments.
In Italy, the summer holiday has begun this week. Prior to the summer holiday domestic rebar prices in Italy were standing at €540-550/mt ($778-792/mt) on actual weight basis, for deliveries to customer. In the local Italian rebar market, transactions are currently very slow and rebar supplies are low. Italian mills' latest offers to export markets were at €510/mt ($734/mt) FOB on actual weight basis.
In the Greek domestic rebar market, buyers are extremely cautious in their purchases, considering the sluggishness of the summer holiday period and the unsteady global economic situation, and thus rebar demand is very low in the country. In the Greek domestic market, mills' prices for medium size rebar have remained unchanged at €540-580/mt ($778-835/mt) for 30-day deferred payments, delivered to customer, excluding VAT and on actual weight basis.
Due to the holiday season, rebar demand in Bulgaria has slowed down this week and price levels have been revised downwards. SteelOrbis has learned that domestic rebar prices in the local Bulgarian market have decreased by BGN 25/mt ($18/mt) to BGN 985-995/mt ($723-731/mt) CPT on actual weight basis, exclusive of 20 percent VAT.
€1 = $1.44