Spanish rebar prices are on the rise post-Easter, following global market trends, according to Kallanish.A distributor notes, "Several major steel producers are initiating price hikes for long products. The price adjustments are expected to be widespread in Spain post the Easter break." Prices have remained relatively steady, with minor fluctuations ranging between €5-10/tonne [$5.4-10.8/t] since late January.
The outlook for the recovery of the domestic construction sector presents a mixed picture. Authorities have issued more permits for projects, design, tendering, and construction in the first quarter compared to Q1 2023.A company source operating in the sector mentions, "The public sector appears well-positioned to capitalize on the situation, with increased investments from the renewable energy and infrastructure sectors securing a busy season." However, private construction activity remains subdued, with investors delaying projects since January due to credit access constraints. The housing sector and demand for long products from small consumers and end-users have been notably quiet. Expectations are set on a potential recovery in activity starting in May.
Currently, 16mm rebar is priced at €320-330/t ($346.5-357.3/t) in Spain, excluding additional costs like size extras and loading expenses, which bring transaction values to €582-592/t ex-works. Sellers confirm a notable producer has raised its offer by €10/t since the beginning of the week.
Data from the Spanish Chamber of Commerce reveals a slight decrease in the monthly index for Spanish domestic rebar prices (B-500 SD 12 meter/12mm) in March compared to the previous month. The index stood at 171.16, marking a 0.81% decline from February and a 14.17% decrease year-on-year, with the index benchmarked at 100 in 2014.
