Following the previous decrease seen in the local market, Romanian flat steel spot traders have decided to keep offers stable in the past week. However, a negative outlook continues to put pressure on the market, especially with sluggish demand and the downward trend of HRC prices in the EU. Meanwhile, Romania’s sole flat steel producer, Liberty Galati, has decided to stop production and remains out of the market. According to local media, the company has entered bankruptcy proceedings after receiving a negative ruling from the National Agency for Fiscal Administration (ANAF). Liberty Galati has obtained a 30-day court period as a last chance to propose a restructuring plan and gain support from creditors. However, the majority of market players do not expect the producer to survive this difficult situation.
Currently, in the spot market, workable domestic hot rolled sheet (HRS) prices are quoted at €700–720/mt ex-warehouse, unchanged week on week. Similarly, cold rolled sheet (CRS) offers have remained stable compared to last week, at around €820–835/mt ex-warehouse.
In the import segment, local demand remains sluggish and, since Romanian buyers previously purchased some lots from Ukraine, they are not keen to restock at the moment. Meanwhile, according to sources, HRS and CRS offers from Ukraine have decreased compared to the previous week, now quoted at €580–600/mt CFR and €670–690/mt CFR, down from €610–620/mt CPT and €700–710/mt CPT, respectively. In contrast, HRC offers from Turkey have declined slightly this week, with FOB prices around $510–525/mt and freight costs of about €20/mt, resulting in a delivered price to Romania of roughly €455-470/mt CFR, down from €460–470/mt CFR previously.
