Over the past week, amid modest local demand, the sole Romanian rebar producer and local traders have decided to keep their long steel offer prices stable. However, according to market participants, some traders are using currency changes and lower stock levels as an excuse to test higher levels, but buyers are not showing much interest in such levels.
The sole producer's rebar prices are stable week on week at €580-590/mt ex-works, with Romanian rebar traders’ prices also stable week on week, at around €580-595/mt ex-warehouse. However, some traders are testing higher levels at €600-605/mt ex-warehouse, but without much success in sales.
On the other hand, despite the sluggish trade, the wire rod segment has also moved sideways, with traders’ offers still at around €580-590/mt ex-warehouse.
Meanwhile, as regards imports, Egyptian suppliers are still not offering, but are expected to begin offering in mid-December, while ex-Moldova rebar offers remain unchanged from last week at €610-620/mt CPT to Romania. In contrast, ex-Turkey offers have declined as mills’ export offers have decreased to $565-575/mt FOB, and, with the current currency rate of €1 = $1.05, prices for delivery to Romania are now at €560-575/mt CFR.