Spanish rebar prices are stable as the market has not seen a significant jump in demand since the beginning of 2017, Kallanish learns from sources. The price has remained stable since the last recovery of €10/tonne ($10.7/t) at the end of March.

According to a merchant, large Spanish mills have material in stock and since the beginning of April are focused on producing more sections and beams than rebar and wire rod. The ratio of these is approximately 60/40. 

“Spanish rebar demand is slow. A large southern mill has commented very confidently that there is no expectation for any price recovery in the domestic market until the end of April,” a market source says.

Rebar is currently sold domestically in Spain at €150-160/t ex-works base, equating to a transaction price of €400-410/t delivered.

The monthly index for Spanish domestic rebar prices published by the Spanish Chamber of Commerce moved insignificantly in April compared to March, but remains well above the levels registered in April 2016. The Index has reached 93.09 this month, up by 15.7% year-on-year and 1.1% month-on-month. The index is based on 100 in 2014.