This week, Romania's sole longs producer and local traders have decided to keep their long steel offers stable week on week. Despite the domestic market's decline last week, market players, well aware of the strong pessimism in the market, indicated that the lack of interest from buyers in lower prices is the main cause of the stability of prices this week.
This week, Romania’s sole rebar producer has kept its domestic rebar offers at €575-580/mt ex-works. Likewise, Romanian rebar traders have kept their offers stable at €560-580/mt ex-warehouse. However, a few traders are attempting to sell more aggressively, at around €550/mt ex-warehouse, in order to attract buyers.
Similar to the rebar market, there has been minimal activity in the local wire rod market, with many traders keeping their prices stable at about €570-590/mt ex-warehouse.
Meanwhile, in the import segment, according to reports, Moldova has kept its offers stable at €590/mt CPT and Greece has offered rebar and wire rod at €655-660/mt CFR and €645-650/mt CFR, respectively. On the other hand, Turkey's rebar offers have decreased week on week and, based on the mills’ prices of $575-585/mt FOB and freight costs of $25-30/mt, the levels to Romania should be at or around €555-570/mt CFR at the current currency exchange rate of €1 = $1.08. Similarly, Egypt has also decreased its rebar and wire rod offers from €570-575/mt CFR and €585-590/mt CFR last week to €565-570/mt CFR and €580-585/mt CFR, respectively.