While Romania’s sole producer and domestic traders had kept prices unchanged in the previous week, the sole producer could not withstand the negative pressure and chose to lower its hot rolled coil prices, while keeping its other flats prices unchanged week on week.
“We have dropped our expectations because demand is quite low, but we anticipate lowering further prices in the coming weeks. However, the Europeans are fairly silent and are unwilling to lower prices,” a representative of the sole domestic producer told SteelOrbis.
Over the past week, prices for domestic origin hot rolled coil (HRC) have decreased by €30/mt to €760/mt ex-works while prices for cold rolled coils (CRC) have remained the same at €885/mt ex-works.
Likewise, in the coated steel segment, the domestic market offers for HDG and PPGI are unchanged week on week at €1,030/mt ex-works and €1,280/mt ex-works, respectively.
Nevertheless, Romanian traders have continued to keep prices unchanged from last week, but a few have opted to drop prices further than what is reasonable in order to attract buyers.
Currently, Romanian traders' pricing for hot rolled sheet (HRS) and cold rolled sheet (CRS) are unchanged week on week at €860-870/mt ex-warehouse and €980-1,010/mt ex-warehouse, respectively. As indicated, certain traders have chosen to reduce prices further to €790-800/mt ex-warehouse and €950-960/mt ex-warehouse respectively.
Meanwhile, this week’s import segment has been quiet, with no offers, mainly due to the ample stocks and inadequate demand in Romania.