The rises seen in global scrap quotations as well as the appreciation of the US dollar against the euro has created expectations that Greek rebar prices will increase, leading to higher international demand for Greek rebar. On the other hand, Greek producers have not yet adjusted their rebar export prices which are still at €490-500/mt ($568-580/mt) FOB. Additionally, steel supply is expected to decline in the European region since August is the traditional holiday period. This has also contributed to the higher demand seen for Greek rebar.
€1 = $1.16