Another quiet week in Greek rebar market

Demand in the Greek domestic rebar market has again remained silent this week as continuing adverse weather conditions in certain regions of the country have negatively affected current construction projects, and also as the decision to impose tight austerity measures has increased the uncertainty surrounding the fate of many public construction projects.
 
This week, local rebar prices in Greece are still standing at €550-600/mt ($737-804/mt) on actual weight basis, for deliveries to customer and 15-day deferred or advance payments, exclusive of VAT, though actual transactions are in small tonnages and are restricted in line with buyers' urgent needs. In the meantime, it is also heard that mills may offer lower prices for orders over 1,000 mt, depending on customer and payment method.
 
In addition, it is reported that this week some rebar offers from Italy to Greece have been given at €520-525/mt ($697-704/mt) CFR. However, no transaction has been concluded at this price range so far.
 
€1 = $1.34