With the start of the new week, Romania's sole flat steel producer has broken the stability of prices, and, regardless of the persisting weak demand, has decided to raise its offers. Meanwhile, Romanian-based traders have maintained their prices unchanged since demand has not shown any signs of improvement.
"We have decided to raise the price, but nothing spectacular, by around €15-20/mt. We realize it is not easy because there are no real bookings at these levels, only small quantities for the time being. But if we do not push, who will?" a representative of the sole producer commented to SteelOrbis regarding the price hike.
As a result, the domestic steel producer in Romania has increased hot rolled coil (HRC) and cot rolled coil (CRC) prices by €20/mt and €25/mt week on week to €675/mt ex-works and €795/mt ex-works, respectively. Similarly, the mill's domestic market pricing for HDG and PPGI in the category of coated steel have risen week on week €25/mt to €825/mt ex-works and €1,115/mt ex-works, respectively.
On the other hand, Romanian flat steel traders' pricing for hot rolled sheets (HRS) and cold rolled sheets (CRS) has remained unchanged from the last week, at €800-820/mt ex-warehouse and €960-1,000/mt ex-warehouse, respectively. According to market participants, with the attempt of the sole producer, spot prices will rise but whether the uptrend will last is unclear.
“Even at the start of this month, demand remained sluggish. We hope to be able to raise prices in the coming weeks, but there is no sign that demand will grow,” a trader told SteelOrbis.
In the import segment, according to sources, ex-Ukraine offers for HRS have increased by €5-10/mt to €690-700/mt DAP from last week, whereas CRS offers have decreased by €10-20/mt to €780-790/mt DAP. In addition, a small cargo of CRC from Turkey has been sold at $720/mt FOB, which is estimated at around €690/mt delivered.