SteelOrbis has been informed that the local prices for medium size rebar in the Greek market vary in a range of €810-830/mt ex-works, on actual weight basis, excluding VAT with 90-day deferred payment.
End-user demand in the Greek domestic rebar market is still slow. The rebar prices, which were at €860-880/mt delivered to customer in early August (31st week of 2008), have this week (35th week) decreased to €810-830/mt. The local traders in Greece anticipate that export offers from Italy will be more frequent after the holiday compared to the pre-holiday period, and they are drawing attention to fact that these low priced export offers from Italy may help reduce the price levels in the Greek domestic rebar market. Meanwhile, it is expected that the Italian rebar offers to the Greek market will be at €700-720/mt CFR.
€1 = US$1.476