Romanian longs prices stable ahead of holiday

Thursday, 02 May 2024 15:44:32 (GMT+3)   |   Istanbul
       

Since demand has remained weak ahead of the Orthodox Easter holiday, Romania's sole rebar producer and local rebar traders have decided to keep their offers unchanged from the previous week. However, players in the sector believe that spot market traders may lower their offers following the holiday if demand remains weak.

This week, the Romanian rebar producer has kept its rebar prices stable week on week at €600-605/mt ex-works. Similarly, most traders have quoted stable offers week on week at €600-620/mt ex-warehouse.

In the wire rod segment, despite the slower trade, the majority of traders have chosen to keep offers unchanged from the previous week at €600-615/mt ex-warehouse.

Furthermore, although no purchases have been reported, import offers have continued to be received. While Moldova has not made any offers this week, Greece has offered at the same levels as last week for both rebar and wire rod at €615/mt CFR. However, offers from Egypt for rebar and wire rod have increased to €590/mt CFR and €600/mt CFR, up from €575/mt CFR and €585/mt CFR last week, respectively. Based on a €1 = $1.07 exchange rate and freight costs of €25–30/mt, ex-Turkey rebar offers have risen by €5-10/mt from last week to €565-590/mt CFR Romania.


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