Spanish rebar prices have remained static despite a recovery in demand, Kallanish learns from local sources.

According to one merchant, Spanish rebar demand increased slightly following a recovery in construction sector activity in June and July.

“The domestic market is stable, after some new orders for public works in the construction sector were made in recent months,” a market source comments. “But these orders were not high enough to support a substantial recovery of rebar demand and therefore new price hikes in the short term.”

According to the latest Eurostat report, construction sector activity in Spain increased 6.5% year-on-year in June and 2.2% compared with May. Spain thereby registered the second-largest increase of all EU countries in June. Slovenia, with 21.2% growth, was first.

Rebar is presently sold domestically in Spain at €200-210/tonne ($234-246/t) ex-works base, equating to some €450-460/t delivered.

The monthly index for Spanish domestic rebar prices published by the Spanish Chamber of Commerce was 8.2% higher in August compared to July. The index stood at 98.15 in August, up 7% y-o-y. According to the data, this is the highest level registered since June 2016 (99.17). The index is based on 100 in 2014.