Although the sole Romanian rebar producer had previously raised prices with local traders following suit, this week the sole producer and traders have kept prices unchanged. According to market participants, the reason for this present stability is that the recent price hike had no significant impact on the demand sector and trade remained at low levels as previously.
This week’s offers from Romania’s sole rebar producer remain stable week on week at €620/mt ex-work. Similarly, most Romanian rebar traders have kept their offers unchanged week on week at around €595-610/mt ex-warehouse.
As for the wire rod market, most dealers have quoted stable offers week on week, at €600-610/mt ex-warehouse.
Due to the slow prognosis for local demand, Romanian traders are not in a hurry to replenish, and so they have made no purchases though offers have been received this week. Accordingly, offers for rebar from Moldova have remained stable at €610-620/mt CPT. Likewise, Egypt has also maintained its rebar and wire rod offers stable, at €575/mt CFR and €605/mt CFR, respectively. Meanwhile, Turkey's average rebar price has risen by €5/mt to €590-605/mt CFR Romania, with a €1 = $1.09 exchange rate and around €25-30/mt freight.