While no recovery is observed in global rebar demand which is still slack, Greek rebar producers are trying to keep their export prices for their target markets stable. Currently, Greek rebar producers’ export quotations are almost the highest among price levels in the global market. Nevertheless, Greek producers are able to keep their export prices stable as buyers in Greece are meeting their needs via purchases from domestic producers even though local rebar prices in the country are at €520/mt ($593/mt) ex-works. Furthermore, the low import rebar flow into Greece means supply and demand in the country have remained balanced. As they are under no pressure to export, Greek rebar producers are trying to keep their prices stable at €505-510/mt ($576-581/mt) FOB, though there is little chance that this price range will gain acceptance in the global market.
€1 = $1.14