During the past week, Greek rebar producers have been seen to focus on their export markets instead of the domestic market due to more attractive prices as well as higher demand. Meanwhile, with the demand and price support provided by their export sales, Greek rebar mills have not reduced their domestic offers. As a result, domestic rebar prices in Greece have moved sideways week on week at €490-500/mt ($593-605/mt) ex-warehouse.
While Greek rebar producers are expected to return to the market on Wednesday after the May 1 International Workers’ Day holiday, their exemption from the 25 percent Section 232 import tariff in the US will end on the same day. Accordingly, Greek rebar mills are expected to be more active on their domestic market in the coming days.
€1 = $1.21