The Spanish rebar market is in holding mode while waiting for developments regarding Algerian demand. Licences for imports of rebar into Algeria are set be issued by the end of July or perhaps even this week, Kallanish learns from market sources in the country.

Local prices are stable, after having gone up last week. Currently rebar is sold domestically in Spain at €200/tonne ($232.7/t) ex-works base, equating to some €450/t delivered.

“The Spanish construction sector is trying to recover, but expectations are not high enough in the short term for domestic demand,” a market source comments. “On the other hand, exports are recovering,” he says, adding that a fresh booking of around 20,000 tonnes of rebar was heard at €470/t delivered, indicating that the upward momentum in pricing is continuing.