Given the somewhat increased demand in the local market, the majority of Romanian rebar traders and the sole local rebar producer have decided to stick with the previous week's price levels. Meanwhile, in the wire rod segment traders have raised prices since the domestic market remains positive, but market players believe that demand in the wire rod segment is still slower than in the rebar segment. Meanwhile, industry participants report that, as business activity picks up, rebar stocks are decreasing, which may positively affect the import segment in the coming weeks.
“Rebar prices continue to be steady but stockpiles are declining amid somewhat better demand. Meanwhile, because of the increased trading, a few traders have attempted to sell rebar at above €640-645/mt ex-warehouse but were unsuccessful,” a trader told SteelOrbis
As a result, the sole rebar producer has decided to keep offers stable week on week at €630/mt ex-works. Similarly, the majority of traders have maintained their rebar offers at around €610-635/mt ex-warehouse since last week.
In contrast, in the wire rod segment, most traders have increased their offers from the previous week, even if conditions are slightly different and demand is still slow. According to sources, offers have now settled at €610-625/mt ex-warehouse, up from €610-615/mt ex-warehouse last week.
In the import market, although more activity is anticipated in the coming weeks, no deals have been heard this week and some offers for Romania have shown a downward trend. According to sources, Egypt's offers for rebar and wire rod have dropped to €575/mt CFR and €590/mt CFR, down from €595/mt CFR and €605/mt CFR last week. Similarly, ex-Turkey rebar offers have fallen by €20/mt to €560-580/mt CFR Romania, based on a €1 = $1.09 exchange rate and freight fees of €25-30/mt. In comparison, Moldova and Bulgaria have maintained rebar offers of €625-635/mt CPT and €640-660/mt CPT, respectively.