Despite the weakness of demand, Greek rebar producers’ export offers have remained stable during the past week at €475/mt ($532/mt) FOB. Although market sources state that weak demand conditions are exerting pressure on Greek rebar export quotations, higher iron ore prices and scrap quotations remaining above the level of $300/mt - despite their slight downtrend recorded recently - have caused higher production costs for producers and so they have not reduced their export offers.
€1 =$1.12