Rebar export prices from Greece to the international markets have remained unchanged during the past week at €495-500/mt ($614-620/mt) FOB. Market sources state that demand from Greek rebar producers’ main export markets such as southern Cyprus and Algeria has been at low levels for a while now, while the signing on March 8 of the 25 percent Section 232 tariff imposed by the US on steel imports effective within two weeks has contributed to a further softening of the already weak demand. According to market sources, Greek rebar producers prefer to focus on their domestic market as local demand has improved slightly following the reduction in the producers' output rates and also due to higher prices in the local Greek rebar market.
€1 = $1.24