Following the sole domestic rebar producer's price increases, demand in the local Romanian market has increased a little, causing both the producer and local traders to keep prices stable this week. Even though trade has been good overall this week especially in the rebar segment, the outlook for the wire rod segment remains bleak.
Over the past week, the sole rebar producer has decided to keep offers stable at €630/mt ex-works. Likewise, most traders have kept their rebar offers stable week on week at €610-635/mt ex-warehouse.
Market participants state that wire rod demand has been poor and slower than in the rebar segment. As a result, current feasible offers in the Romanian wire rod market are at €610-615/mt ex-warehouse, the same as last week.
Although no fresh purchases have been reported in the import market this week, sources claim that a Bulgarian supplier sold 5,000–10,000 mt of rebar coil to Romania in October, that delivery was delayed and the material has just arrived lately. Additional details reveal that the sale was done at pricing below what is now feasible, which has the potential to have an impact on prices and contribute to additional discounts in the coming weeks.
As reported by SteelOrbis, Bulgaria's rebar offers were €610-620/mt CPT in October and are currently at around €640-660/mt CPT in Romania. Nonetheless, this information has not been confirmed by the time of publication.
Meanwhile, rebar offers from Moldova and Turkey have remained unchanged at €625-635/mt CPT and €580-600/mt CFR, respectively. Similarly, Egypt continues to maintain its rebar and wire rod prices at €595/mt CFR and €605/mt CFR, respectively.