Availing of the temporary exemption from the 25 percent Section 232 tariffs in the US until May 1, Greek rebar producers have been concluding sales to the US for some time. However, with US buyers growing apprehensive as no agreement in relation to the exemptions from the Section 232 tariffs was reached while the May 1 deadline was approaching, they postponed their rebar purchases over the past week.
Meanwhile, the US authorities announced on April 30 that the temporary exemptions will be extended until June 1. Market sources state that US buyers are expected to continue their purchases of Greek rebar in the coming period following this announcement.
On the other hand, demand in Greek rebar exporters’ main markets such as Algeria and southern Cyprus is still at low levels.
Under these circumstances, Greek rebar exporters have maintained their offers unchanged week on week at €480-490/mt ($576-588/mt) FOB.
€1 = $1.20