In response to the pessimistic outlook both domestically and in Europe as an outcome of continuing sluggish demand, the sole Romanian flat steel producer has had no choice but to decrease its HRC offers this week. Romanian flats spot traders, on the other hand, have chosen to keep prices stable week on week even though domestic trading activity is still at a low level. But in the coming weeks, it is most likely that spot market prices will also weaken.
The domestic producer has cut its hot rolled coil (HRC) offers to €615-620/mt ex-works from €685-690/mt ex-works last week. In the meantime, its cold rolled coil (CRC) pricing, mainly just for regular clients, has been reported at €715-720/mt ex-works. In addition, the mill’s PPGI offers have declined from €1,085-1,090/mt ex-works to €1,065-1,070/mt ex-works, while its HDG prices have remained stable week on week at €785-790/mt ex-works.
In the meantime, the prices quoted by Romanian flat steel traders for hot rolled sheets (HRS) and cold rolled sheets (CRC) have not changed from the previous week, remaining at €750-780/mt ex-warehouse and €900-950/mt ex-warehouse, respectively.
In the import market, sources indicate that HRC offers from Turkey have increased a little over the past week. FOB pricing is around $600-620/mt, and freight is about €25/mt resulting in a price to Romania of roughly €585-605/mt CFR, an increase of €5/mt. While South Korean suppliers have lowered offers by €10/mt to €700/mt CIF from last week, Italy has chosen to withdraw its offers in the S235 quality quarto plate segment this week. The sole Romanian producer, on the other hand, is offering plates at roughly €740/mt DAP.
