Rebar prices in Spain have increased since mid-July, market sources tell Kallanish.
Traders confirm that rebar production plants in Spain have increased prices due to the start of scheduled maintenance. Growth is slightly higher than in other European markets, due to the recovery in demand from the construction sector.
"The volume of rolled products is expected to decrease in the coming weeks, and manufacturers have raised prices ahead of the planned shutdowns," says one of the sellers. "Even with high prices, demand remains high."
On the eve of summer, market sentiment is positive, which is facilitated by the recovery in construction activity.
"Activity increased in June and July, mainly due to work in the public and residential sectors," a company representative said. from the notes of a local construction company. "We are going through a period of rapid activity, when more and more building permits are being issued. Private construction projects also contribute to the positive dynamics in the sector."
Another participant notes that the local market has become more predictable and stable, despite a slight price adjustment by 5-10 euros per ton (5.87-11.75 dollars per ton) by the end of this month, this would not be surprising.
According to the Spanish Chamber of Commerce, the monthly domestic rebar price index (B-500 SD 12 m/12 mm) rose for the seventh month in a row in July. The index was 198.08, which is 1.23% more than in June. It also grew by 13% year-on-year. The index is based on the value of 100 in 2014.
The current offers for 16 mm thick rebar in Spain are 373-378 euros per ton. Taking into account the surcharge of 262 euros per ton and the cost of loading, the transaction value is 635-640 euros per ton from the factory.
Todor Kirkov Bulgaria
Kallanish.com
