Even though business activities have improved, the sole Romanian producer and local traders have opted to maintain the same offers as in the previous week. The reason for the stability, according to market players, is that buyers are not willing to accept higher prices, while domestic trading is going well at existing levels.
As a result, the sole rebar producer's price is stable week on week at €630/mt ex-works. Similarly, the majority of traders have maintained their previous rebar quotes of €610-635/mt ex-warehouse.
Although sources in the wire rod market report that demand remains poor in comparison to the rebar market, the majority of traders have continued providing the same prices as last week, at €610-625/mt ex-warehouse.
Meanwhile, offers in the import market have continued to be heard, but trade has remained quiet. According to reports, ex-Egypt offers for rebar and wire rod are unchanged from the previous week at €575/mt CFR and €590/mt CFR, respectively. Likewise, ex-Greece rebar and wire rod offers are stable at €625-635/mt CFR and €645-655/mt CFR, respectively. Rebar offers from Turkey have decreased by €5/mt to €555-580/mt CFR Romania, based on a €1 = $1.09 exchange rate and freight costs of €25-30/mt. Rebar offers from Moldova and Bulgaria have fallen by €5/mt and €10/mt week on week to €620-630/mt CPT and €640-650/mt CPT, respectively.