Even though the Orthodox Easter holiday in Romania ended on Tuesday, the domestic long steel market has remained in a holiday mood with many companies still absent this week, and so most long steel spot traders and the sole rebar mill have kept their prices unchanged this week. However, according to some market players, demand has been extremely low this week and if this situation continues a price decline will be unavoidable in the coming week.
“After the holiday, demand in Romania has remained quite low, but we will see what happens next week because many firms are also off this week,” a trader told SteelOrbis
The sole Romanian rebar producer's prices have remained stable week on week at around €600-605/mt ex-works, while most traders have kept their rebar prices unchanged week on week at €600-620/mt ex-warehouse, with their wire rod offers stable at €600-615/mt ex-warehouse.
Although no purchases have been reported in the import market, Moldova has begun to provide rebar at €620/mt CPT, while Bulgaria has offered rebar at €625-630/mt CPT. Egypt, on the other hand, has maintained stable pricing for both rebar and wire rod at €590/mt CFR and €600/mt CFR, respectively. Ex-Turkey prices to Romania based on a €1 = $1.07 exchange rate and freight costs of €25-30/mt are stable week on week at €565-590/mt CFR.