Greek rebar market remains silent ahead of new elections

Wednesday, 21 March 2012 18:00:08 (GMT+3)   |  
       

The Greek steel market has witnessed no improvement either this week due to the ongoing economic depression in the country. However, market sources think that with the financial support from the European Union (EU) some new state-funded projects may again be launched. Nevertheless, the country is now waiting for the elections likely to be held in late April or early May and the silence in the Greek steel market is expected to prevail until the elections are over. The fate of the state-owned projects may become clearer with the outcome of the elections.
 
While not many new rebar transactions have been concluded in the Greek domestic market this week, local producers' medium sized rebar offers are currently standing at €550-600/mt ($726-792/mt) + VAT delivered to customer on actual weight basis, for advanced or 15-day deferred payments.
 
€1 = $1.32

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