Romania’s sole local flat steel producer as well as local retailers have reduced prices this week as a result of the lack of demand caused by the ongoing economic and financial troubles worldwide. In addition, there has been no need to replenish stocks owing to the absence of demand, and so there are no import offers this week.
“The drop is seen and will continue since there is no demand, which is our biggest problem, and I'm not sure how we will survive with such a bleak future outlook,” a source told SteelOrbis.
The sole domestic steel producer in Romania has dropped prices by €45-80/mt to €775-790/mt ex-works for hot roll coil (HRC) for November production, while cold rolled coil (CRC) prices have decreased to €885-890/mt ex-works from €930/mt ex-works in the previous week. Additionally, the mill's domestic market price in the category of coated steel for HDG went down to €970-975/mt ex-works, from €1,010/mt ex-works last Friday, while PPGI increased by €20-25/mt to €1,270-1,275/mt ex-works from previous weeks.
Meanwhile, traders' prices for hot rolled sheets (HRS) decreased to €875-1,040/mt ex-warehouse, which was €875-990/mt ex-warehouse last week. Similarly, the feasible price for cold rolled sheets (CRS) has dropped from the previous week by €20/mt to €1,045-1,070/mt ex-warehouse.