The sole manufacturer of rebar in Romania and local rebar traders had attempted to raise prices in the previous week, but their efforts were unsuccessful in attracting clients. As a result, they have decided to keep prices unchanged this week. Accordingly, trade has been stable among larger traders, neither too high nor too low, whereas demand remains notably weak among medium-sized and smaller traders. Despite differing sales volumes, the majority of market participants agree that market conditions will remain depressed in the coming period.
“Our demand is better than a month ago since the more balanced situation between supply and demand caused a modest increase in pricing, but I expect it to worsen again in a month,” a bigger trader commented to SteelOrbis.
Over the past week, the price of rebar from Romania’s sole producer has been kept at €595-600/mt ex-works. Likewise, Romanian rebar traders have maintained their rebar prices stable week on week at €580-600/mt ex-warehouse.
On the other hand, the majority of suppliers in the wire rod market have decided to maintain prices at last week’s levels since they knew that the increase in rebar would not hold for very long and that the market was also expected to remain depressed in the weeks ahead. Because of this, the majority of traders’ offers have stayed at about €570-580/mt ex-warehouse.
Moreover, in the import segment, earlier in the week that ex-Moldova offers for rebar had increased by €20-30/mt to €600-610/mt CPT, while rebar offers from Bulgaria remained stable at €610-620/mt CPT. According to sources, Egypt has maintained its rebar and wire rod offers for November shipment at €565-580/mt CFR. Similarly, Greece’s rebar and wire rod offers have remained stable week on week at €595-600/mt CFR and €605-610/mt CFR, respectively.