Romanian flat steel prices stable despite slow trade

Friday, 23 February 2024 17:33:55 (GMT+3)   |   Istanbul
       

Although the situation has remained bleak in the Romanian domestic flat steel market, the sole local flat steel producer and spot traders have made no changes in their offers. Trade for the producer is reported to be stable but at slower levels, and price adjustments will be seen in the coming weeks, while flat steel spot traders have stated that demand remains very sluggish.

“We have kept flat steel prices stable compared to the previous levels as demand has remained stable, and probably within the next week there will be some adjustment in prices on our side,” a representative of the sole producer commented to SteelOrbis.

The sole flat steel producer has kept its hot rolled coil (HRC) prices stable week on week at €725-730/mt ex-works, while it is still holding back cold rolled coil (CRC) offers. Likewise, the mill's domestic prices for HDG and PPGI are unchanged week after week at €780-785/mt ex-works and €1,055-1,080/mt ex-works, respectively.

In the flat steel spot market, most traders have kept their hot rolled sheet (HRS) and cold rolled sheets (CRS) stable week on week at €780-790/mt ex-warehouse and €870-880/mt ex-warehouse, respectively.

However, according to sources, a few traders have attempted to offer higher prices for HRS at €800-820/mt ex-warehouse, but it is impossible to attract buyers' attention in the current conditions.

Meanwhile, since the local producer is active in the market and given the weak trade in the local market, Romanian traders are not showing interest in imports. However, offers from Turkey have dropped by €5-10/mt, with FOB prices of $680-700/mt and shipping costs of about €25/mt, arriving in Romania at around €655-670/mt CFR.


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