Romanian longs prices stable amid weak activity after holiday

Thursday, 09 May 2024 16:55:18 (GMT+3)   |   Istanbul
       

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.


Similar articles

US import long steel markets creep higher ahead of expected slow US Thanksgiving holiday week

21 Nov | Longs and Billet

US domestic rebar pricing up slightly while wire rod remains steady on week 

21 Nov | Longs and Billet

Longs prices in Romania increase, some interest in ex-Egypt material

21 Nov | Longs and Billet

Asian wire rod prices edge down further despite rises in Chinese futures prices

21 Nov | Longs and Billet

Southern European longs market stable, shutdowns expected

21 Nov | Longs and Billet

China’s rebar output down 14.3 percent in January-October

20 Nov | Steel News

Local Chinese longs prices fall further as fundamentals remain weak

18 Nov | Longs and Billet

US domestic rebar and wire rod pricing still flat, trend seen higher as year-end nears

15 Nov | Longs and Billet

US import long steel prices steady following US election, Liberty to remain down until March 2025

15 Nov | Longs and Billet

Stagnant market for rebar and wire rod in Italy amid limited demand, almost stable prices

15 Nov | Longs and Billet