The insolvency of the Greek economy means that the country's construction industry continues to remain practically at a standstill. As SteelOrbis previously reported, trading on credit has become almost inexistent in Greece and many construction companies are facing serious debt problems.
Accordingly, at present the Greek domestic rebar market is strongly depressed and transactions are very scarce, with the rebar price range as wide as €550-650/mt ($690-816/mt) for deliveries to customer. In the meantime, foreign suppliers now accept to work with Greek buyers only on cash payment basis, though no import offer has been heard lately.
The general elections on June 17 are expected to bring some clarity to the market.
€1 = $1.255