Given the summer holidays in Romania and across Europe, which have resulted in quiet and much slower trade in the Romanian market, the sole domestic rebar producer and local long steel traders have decided to keep their offers unchanged week on week. However, some medium-sized traders have continued to provide discounts for serious customers considering the gloomy outlook created the very low sales volumes compared to previous months.
According to reports, over the past week, the sole producer’s rebar prices have remained at €575-580/mt ex-works, while Romanian rebar traders have kept their prices unchanged week on week at €570-590/mt ex-warehouse.
Similar to the rebar segment, the majority of traders in the wire rod segment have kept offers unchanged from the previous week, despite the continuing weakness of the market. Currently, traders are submitting wire rod offers at €580-595/mt ex-warehouse.
In the import segment, while no deals have been achieved, the majority of import offers have remained stable week on week. As a result, Greece has been offering rebar and wire rod at €645-660/mt CFR and €635-650/mt CFR, respectively, while Moldova continued to offer rebar at €590-600/mt CPT. Meanwhile, Egypt's rebar and wire rod offers have decreased by €5/mt to €550-555/mt CFR and €560-565/mt CFR since last week, respectively. A similar decrease has been seen from Turkey, based on Turkish mills’ prices of $570-585/mt FOB and freight costs of $25-30/mt, according to which Turkish price levels to Romania should be at about €545-565/mt CFR at the current currency exchange rate of €1 = $1.09.