In the European
rebar market, which has been declining for a while, ex-southern
Europe rebar offers have indicated a further decrease of €10/mt ($13/mt) as compared to last week to €465-475/mt ($600-613/mt) FOB.
Even though the strengthening of the euro against the US dollar has already stopped, the current exchange rate at 1.29 and the
rebar export offers from
Europe have made Turkish mills'
rebar export offers more attractive.
€1 = $1.29