Since SteeelOrbis’ report published on February 28, domestic rebar prices in Greece have moved sideways in the range of €520-525/mt ($640-646/mt) ex-warehouse. In contrast to many markets, the upward movement of global scrap and billet prices has not caused an increase in the local Greek rebar market. Market sources believe the weakness of domestic rebar demand has prevented prices from moving up.
On the other hand, with the approach of spring as well as the resumption of price inquiries by buyers against the backdrop of their low inventory levels, the expectations of an increase in the local Greek rebar market in the short term are gaining strength since mills’ production costs are now higher.
€1 = $1.23