SteelOrbis has been informed that, with the temporary exemption from the Section 232 tariffs until May 1, Greek rebar producers have continued their sales to the US, while demand for Greek rebar in the US is still strong. Having revised their rebar offers to the US downwards in order to gain a price advantage, Greek rebar exporters have maintained their offers stable week on week at €480-490/mt ($586-598/mt) FOB.
Market sources state that Greek rebar exporters are worried about the approaching end of their exemption from the Section 232 tariffs, while they believe serious steps should immediately be taken for a permanent exemption. Meanwhile, French President Macron and Germany's Angela Merkel will be holding official talks with President Trump to find a way to gain permanent exemption from the Section 232 tariffs during their visits to the US.
Meanwhile, in Greek rebar producers’ traditional export markets such as southern Cyprus and Algeria, demand for Greek rebar has remained at low levels.
€1 = $1.22