As most companies in Romania and across the EU remain on their summer holidays, with market activity expected to resume at the beginning of September, trading has been limited over the past week. Consequently, the majority of spot traders in Romania have decided to keep their flat steel offers stable. While overall market activity has been subdued, some restocking has taken place, with Romanian buyers purchasing limited volumes from neighboring countries.
Currently, domestic hot rolled sheet (HRS) prices in the Romanian spot market are quoted at €700-720/mt ex-warehouse, unchanged week on week. Similarly, cold rolled sheet (CRS) prices remain stable at €825-835/mt ex-warehouse.
Meanwhile, Liberty Galati, the country’s sole flat steel producer, which recently obtained court approval for its restructuring plan, has decided to place the majority of its steelworkers on technical unemployment starting from September. This measure involves suspending employment contracts and paying at least 75 percent of base salaries. The plant remains inactive and out of production. Adding to the challenges, Liberty Tubular Products, another subsidiary of Liberty Galati, has also declared bankruptcy this week, further highlighting the deteriorating situation.
In the import market, Romanian traders, who lack a domestic supplier and must rely on foreign purchases, continued to cover their needs with small lots from neighboring countries. Sources report that Romanian buyers recently purchased hot rolled sheet from Ukraine at €590-605/mt CPT. At the same time, Ukrainian offers have decreased by €5/mt, standing at €590-600/mt CPT for HRS and €680-690/mt CPT for CRS for September-October shipments. In contrast, Turkish HRC offers have inched upward, with FOB prices now at $540-560/mt. Including freight costs of €15-20/mt, delivered prices from Turkey to Romania are calculated at approximately €480-500/mt CFR for September shipments, compared with last week’s €470-490/mt CFR.