This week, Romanian long steel spot traders have kept their prices stable week on week, while the sole Romanian rebar producer has attempted to raise its offers due to the influence of Arcelor Mittal’s higher prices and the overall rises in export offers. However, reports indicate that the local producer is also offering discounts for bigger tonnages since trade is on the slack side in the domestic market. Meanwhile, in the spot market, market participants state that, because demand does not support further price increases, prices have remained stable.
As a result, the sole domestic mill has increased its rebar offers by €15/mt week on week to €580-590/mt ex-works. In contrast, Romanian traders' rebar prices remain stable week on week at €565-575/mt ex-warehouse.
On the other hand, the market has been silent in the wire rod segment since there has been no improvement, so most traders have quoted the same offers as last week, with the current workable levels at about €575-590/mt ex-warehouse.
Even though no purchases have been reported from Romanian importers, Egypt has kept its rebar and wire rod prices stable week on week at €585-590/mt CFR for November shipping. However, Turkish rebar offers to Romania based on a €1 = $1.09 exchange rate and freight costs of €25-30/mt have fallen to €585-600/mt CFR, down from €595-605/mt CFR last week. But, compared to last week, rebar offers from Bulgaria to Romania have risen by €10/mt to €610-630/mt CPT.