While the sole Romanian rebar supplier and local traders have kept their offers stable week on week, the absence of end-user demand, which has been persisting for a few months, and financial difficulties have remained negative factors this week also.
“No change happened in the local Romanian market from the previous week since demand and other factors have remained weak,” a Romanian trader told SteelOrbis.
However, due to extremely slow business activities, several traders have decided to provide discounts while negotiating in order to attract the interest of buyers.
According to reports, Romanian rebar traders have maintained their previous weeks’ offers of €570-585/mt ex-warehouse. In the meantime, some traders have decided to sell more aggressively, at €550-560/mt ex-warehouse, to attract buyers’ interest. Romania’s sole rebar producer has kept its domestic rebar offers at €575-580/mt ex-works.
In the wire rod segment, where no positive change in demand has been seen, many traders have reaffirmed their prices at around €570-580/mt ex-warehouse, with a few large traders still looking to sell at €585-590/mt ex-warehouse.
On the other hand, in the import segment, most offers have remained stable this week, with the latest ex-Moldova offers for rebar stable week on week at €575/mt CPT. Similarly, Egypt's rebar and wire rod offers have remained unchanged at €550-555/mt CFR. Meanwhile, according to sources, export offers from Greece have yet to be received due to much weaker trade activity in both the domestic and export markets. Additionally, this week there have been some offers for rebar and wire rods from Italy at €540 FCA and €560/mt FCA, respectively. Local market participants estimate the delivery cost to Romania at €40/mt, and so Romanian purchasers may consider €580/mt and €600/mt for rebar on delivered basis.