During the past week, international demand for Greek rebar has failed to improve. Although Algerian buyers continue to make price inquiries for Greek rebar, they prefer to buy domestically produced rebar due to more attractive prices. On the other hand, negotiations between the US and EU are expected to continue until the deadline (June 1) for the final determination of the exemptions from the Section 232 tariffs. Market sources report that Greek producers do not plan to conclude sales to the US before the announcement of this decision. Greek rebar exporters’ offers to the international markets have remained stable week on week at €490-500/mt ($568-580/mt) FOB.
€1 = $1.16