With
Greece set to face further elections, political and economic instability persists in the country. Consequently, trading on credit has become almost inexistent in
Greece, while
construction activities have nearly ground to a halt.
Accordingly, the Greek domestic
rebar market is currently in a deep recession and transactions are very scarce, with the
rebar price range as wide as €550-600/mt ($697-759/mt) for deliveries to customer. Although deferred payment is not an easy option to find in
Greece nowadays, as mentioned above, for such transactions
rebar prices may reach €630-650/mt ($797-822/mt) for deliveries to customer.
As it almost impossible to predict when political and economic stability will be restored in
Greece, the domestic
rebar market and related industries are foreseen to remain almost silent for an indefinite period of time.
€1 = $1.265