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May, 21st 2018

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MAY 17

Spanish rebar prices fall on lack of demand


Spanish rebar prices have fallen in May, as demand for the product has remained weak since the beginning of the year, Kallanish learns from sources.

Local steelmakers must contend with a lack of export enquiries, while domestic demand is still low, as the construction sector is not recovering as expected.

According to one merchant, a large southern mill has temporarily halted its rebar production during the last three weeks and since the beginning of May is focused on producing sections and beams.

“Spanish mills have enough material in stock, as domestic rebar demand is slow. Local producers are waiting for export offers from Algeria, but it looks like their import licences are [… now] to be published next month,” a market source says.

The price has remained stable since the last recovery of €10/tonne ($11.1/t) at the end of March. It has however fallen by near €30/t in the last two weeks.

Rebar is currently sold domestically in Spain at €120-130/t ex-works base, equating to a transaction price of €380-390/t delivered.