According to market sources, players in the Greek
rebar market will pull out of the market in the coming week due to the Christmas holiday and return on January 7. Therefore, transaction activity in the market is rather slack, even though local
rebar offers are in the range of €470-480/mt ($578-590/mt) delivered.
Meanwhile, current
rebar offers from Spain and Italy to
Greece are in the range of €410-415/mt ($504-510/mt) FOB. Exporters have warned buyers in
Greece of an impending upward revision in prices in line with stronger scrap prices, though they have not made a move yet, waiting for the holiday period to conclude first.
€1 = $1.23