Since no significant changes have been seen in the market or in local demand, the sole Romanian rebar producer and local traders have decided to keep long steel offer prices stable week on week. Furthermore, according to market players, the rebar segment is much better, but demand levels have been slow since the beginning of November, whereas in the wire rod segment the situation is quite different from the rebar segment, with trade much lower and expectations on the negative side due to the lack of improvement in relation to construction projects.
As a result, the sole producer's rebar prices are stable week on week at €580-590/mt ex-works, with Romanian rebar traders’ prices also stable week on week, at around €575-580/mt ex-warehouse.
On the other hand, despite the current negative outlook, the wire rod segment has also moved sideways, with traders’ offers still at around €570-585/mt ex-warehouse.
Meanwhile, as regards imports, some offers have remained stable, while others have decreased. According to sources, Greece's offers for rebar and wire rod have dropped by €5/mt and €25/mt to €615-620/mt CFR and €605-610/mt CFR, respectively. A similar decline has been noted in Turkish mills’ prices of $590-600/mt FOB, but with the current exchange rate of €1 = $1.07, prices for delivery to Romania have remained stable at €575-590/mt CFR. Meanwhile, Bulgaria continues to provide rebar at €600-620/mt CPT, while Egypt's rebar and wire rod offer prices remain at €560-565/mt CFR since last week.