With the Easter holiday in Greece having been mostly extended to the end of last week, the Greek market remained very quiet in the given week. However, with the holiday over this week, Greek rebar producers have been disappointed by the state of international rebar demand.
Although Greek rebar export prices have decreased to €480/mt ($538/mt) FOB, Greek mills state that price is not the main problem. According to Greek steelmakers, the real problem is the weakness of demand which lower prices are not capable of influencing. If the current situation continues, Greek rebar mills say they will be forced to reduce their output rates.
€1 = $1.12