Rebar demand still low in Greece

Rebar demand in the local Greek market has remained very low, due to the uncertainty in the country's economy, the risk of a further deepening of the debt crisis and continuing bad weather conditions. Since the adverse weather is expected to last for a while, rebar demand in the country is not foreseen to show an improvement at least until mid-February.
 
In the meantime, local rebar prices in Greece have remained unchanged as compared to last week at €550-570/mt ($721-747/mt) on actual weight basis, for deliveries to customer and 15-day deferred or advance payments, exclusive of VAT. While the price range may vary depending on the customer and transaction volume, it is reported that discounts are available for larger tonnage bookings. On the other hand, prices may reach €580-600/mt ($760-786/mt) for smaller tonnages.
 
No new rebar import offers have been heard in the Greek market, while Italian rebar offers, which were standing at about €550/mt ($721/mt) CIF two weeks ago, have not resulted in any transactions.
 
€1 = $1.31