Considering the continuing situation of lower stocks which has negatively impacted trade in the past few weeks, Romania's sole rebar producer has decided to reduce its offer prices this week. Meanwhile, although the local market has slowed more than usual this week, local traders have chosen to keep their offers unchanged from the previous week. Players in the market claim that the current slowness is caused by buyers expecting new prices following the start of the new EU quota period on October 1.
“Currently, demand is decreasing dramatically as clients await new prices on October 1 after customs clearance of new volumes,” a trader told SteelOrbis.
Over the past week, Romania's sole rebar producer has decreased it rebar price by €5-10/mt to €565-575/mt ex-works. In contrast, Romanian rebar spot prices have remained stable at €570-590/mt ex-warehouse.
Similar to rebar traders, Romanian wire rod traders have also kept their offers unchanged from the previous week due to the lack of significant market developments. According to reports, the current offers are at around €580-595/mt ex-warehouse.
Meanwhile, in the import segment, though offers continued to be received, no deals have been announced yet. According to sources, ex-Moldova and ex-Bulgaria rebar offers have remained stable week on week at €590-600/mt CPT and €600-620/mt CPT, respectively. Egypt, on the other hand, has decreased its rebar prices by €10/mt to €525-530/mt CFR while keeping wire rod prices stable at €540-545/mt CFR, for November shipment. Furthermore, Turkey's average rebar price has increased by €5-10/mt to €555-565/mt CFR Romania, with a €1 = $1.11 exchange rate and around €25-30/mt freight.