SteelOrbis has been informed that angle prices in the local Greek market have remained unchanged over the past two weeks at €495/mt ($545/mt) ex-works, for August shipment. In the same period, demand for Greek angles in the local and export markets has been quite weak.
Meanwhile, Italian angle offers to Greece have also remained unchanged over the past two weeks at €455/mt ($501/mt) CFR, for July shipment.
After the Greek government's decision to impose capital controls and restrict cash withdrawals, problems have started to be experienced in collection of payments in the local Greek merchant bar market. While orders from Italy for July shipments have started to arrive in Greece, products have failed to be delivered to customers due to payment problems. Market sources state that transaction activities in the country have slowed down significantly, with buying activity stagnating.
€1 = $1.10