Prices in Spain have decreased by more than €45/ton ($48.63-54.04) since early May and offers have remained relatively stable at current levels.
A source said, "The upward adjustments in the Turkish rebar market did not affect Spanish prices. Slowing demand in the Spanish construction sector led to further decreases following the presidential elections in Turkey on 14 May and there is uncertainty in the market ahead of the run-off on 28 May."
Rebar is currently sold domestically in Spain at a base price of €320/t ($345.77). When dimensional extras of €262/t and loading costs of €23/t are included, the transaction value is €605/t ex-works. Some offers were also heard for 16mm rebar at €600/t ex-works.
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