Longs traders in Romania have opted to raise prices in response to stronger scrap prices in recent deals to Turkey. However, domestic demand for rebar and wire rod in Romania has remained insufficient and most sellers report their daily business has been slow. In addition, persistent economic and financial challenges are exerting pressure on the Romanian longs market, reducing the purchasing power of traders and buyers. Still, some local retailers have chosen to restock on the import side, though for material of quota-free origins.
In particular, according to sources, a 15,000 mt mixed cargo has recently been booked from Egypt at around $685-690/mt CFR for rebar and $715-720/mt CFR for wire rod. Some players expect Egypt may become a sustainable supplier to Romania as its products are not included in the EU safeguard measures. Aside from Egypt, Moldova has offered rebar at €700-760/mt delivered to Romania. Considering the EU quota difficulties, Turkey's average pricing level is about €720-755/mt CFR based on a $1 = €1.01 exchange rate and approximately €25-30/mt freight.
Domestic retail rebar prices in Romania are currently in the range of €745-760/mt ex-warehouse, up from €735-750/mt ex-warehouse last week. Traders’ offers for wire rods in Romania have also been trending up this week and are now standing at €750-770/mt ex-warehouse, a €30/mt increase from last Friday. In the import segment, accordingly, Italy has offered at €730/mt FCA and Ukraine has been aiming to sell at €760-770/mt delivered.