Greek rebar market waits for greater economic clarity

Thursday, 29 January 2015 16:00:51 (GMT+3)   |   Istanbul
       

SteelOrbis has been informed that Italian rebar offers to Greece are currently in the range of €435-445/mt ($492-503/mt) CFR. Market sources point out that demand in the Greek rebar market is weak, though it has been heard that purchases of small tonnages have been concluded at €435/mt ($492/mt) CFR this week.
 
Economic uncertainties in Greece have continued following the general election held in the country on January 25, influencing the domestic steel market. The new government's stance towards the EU and issues such as whether Greece will continue using the euro as its currency will have an important impact on the steel market. Therefore, market sources state that everyone in the Greek rebar market is waiting for greater clarity in the country's economic situation before making a move.

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