This week in Romania the long steel spot market has moved sideways week on week amid slower demand, while the sole rebar producer has chosen to slightly raised its offers. Since trading in the local market is on the slack side, traders who are not interested in importing and who need to restock with small lots prefer to buy from the local producer, which the sole rebar producer side has seen stronger demand compared to the spot market and so it has increased its price.
Accordingly, the sole rebar producer has increased its price by €10/mt to €630/mt ex-works from the last week. In contrast, most traders have cited stable offers from the previous week at €610-635/mt ex-warehouse.
Meanwhile, there have been no big adjustments in the wire rod segment and prices have remained stable. According to reports, current feasible offers in the Romanian wire rod market stand at €610-615/mt ex-warehouse.
Furthermore, this week in the import market offers have continued to come in despite Romanian traders’ lack of enthusiasm in making any purchases. This week, Moldova upped rebar offers by €15/mt to €625-635/mt CPT, while Bulgaria reduced rebar offers by €5-15/mt to €645-655/mt CPT. Similar to Bulgaria, Turkey’s average rebar offers have dropped by €5-10/mt to €580-600/mt CFR Romania, based on a €1 = $1.08 exchange rate and freight of €25-30/mt. In contrast, Egypt has maintained its rebar and wire rod prices at €595/mt CFR and €605/mt CFR, respectively.