This week, Romanian flat steel spot prices have remained stable, following a brief period of upward momentum last week driven by slightly improved demand. However, trading activity has failed to gain real traction, with traders choosing to keep prices unchanged due to persistent slowness of demand. Market participants report that, while there is some level of activity, overall demand continues to be limited. Buyers remain cautious, largely due to ongoing liquidity challenges, which are restricting their ability to commit to larger or longer-term purchases.
Meanwhile, Romania’s sole flat steel producer, Liberty Galati, has continued to stay silent regarding its production operations and sales strategies. Local media reports that Sanjeev Gupta, the owner of Liberty Steel Group, is actively exploring solutions to address the plant’s financial struggles. Unconfirmed sources report a potential restructuring effort through a newly established company in Romania, which could be a vehicle for the eventual sale of Liberty Galati. In response to the escalating concerns, Romania’s prime minister, Ilie Bolojan, recently announced the formation of an interministerial committee aimed at safeguarding state interests in Liberty Galati SA and Liberty Tubular Products Galati SA. The government’s intervention comes amid fears that both companies may face bankruptcy, potentially resulting in significant financial losses for various state institutions.
On the pricing side, domestic hot rolled sheet (HRS) offers have remained stalbe at €710-735/mt ex-warehouse, while cold rolled sheet (CRS) prices are also stable, at €830-845/mt ex-warehouse, with no notable changes reported compared to last week.
On the import side, while there have been no new deals reported from Romanian buyers who typically stock up mainly from Ukraine and Turkey, both Ukrainian and Turkish suppliers have maintained stable pricing levels this week. According to market reports, the Ukrainian supplier has kept hot rolled sheet (HRS) offers steady at €590-600/mt CPT and cold rolled sheet (CRS) at €680-690/mt CPT for October shipments. Likewise, Turkish suppliers have kept their prices unchanged week on week, with CFR offers for November shipments to Romania estimated at €470-490/mt, including freight costs of around €15-20/mt.
