Since buyers in Greek rebar exporters’ main markets, such as Algeria and southern Cyprus, continue to purchase domestic rebar amid attractive prices, demand for Greek rebar in these markets is at low levels. As Greek rebar exporters are seeking alternative markets, they have reduced their rebar export prices to be able to compete with Italy and Spain which are using the advantage of their temporary exemption from the Section 232 tariffs until May 1 to conclude sales to the US. As a result, Greek rebar export quotations have declined by €15/mt on the lower end and by €10/mt on the upper end week on week to €480-490/mt ($595-608/mt) FOB.
€1 = $1.24