Following the Christmas and New Year holidays, trading activity in the Spanish rebar market is still very slow. However, despite the declines in global scrap prices, domestic rebar prices in Spain have remained stable at €510-520/mt ($587-598/mt) delivered to customer, since the 714,964 mt quota for rebar imports determined by the European Commission has been exhausted. In the coming period, Spanish suppliers are expected to sacrifice some of their profit margins and reduce their prices due to the weakness of demand.
€1 = $1.15