This week, the Romanian long steel market has not seen any improvements, and so Romanian long steel spot traders have chosen to maintain their offers from the previous week. According to market players, the outlook is still poor, with lower expectations on the buyers' side, so overall demand remains weak. Meanwhile, although offers from the sole Romanian rebar producer have also remained stable, there are rumors in the market that they are providing discounts to serious purchasers to attract more interest. Furthermore, this week, despite Romanian traders' lack of interest in importing due to limited local demand, an import deal from Turkey to Romania has been heard.
According to reports, Romania recently purchased some rebar from Turkey at $555-560/mt FOB, which is expected to be roughly €540-550/mt CFR. However, this information has not been fully confirmed by the time of publication. Meanwhile, Turkish mills’ current offers vary at $560-570/mt FOB, with a current currency exchange rate of €1 = $1.08 and freight costs of $25-30/mt, resulting in Turkish prices to Romania at roughly €545-555/mt CFR.
Egypt, on the other hand, which usually offers the closest pricing to these levels, is not currently offering but is likely to start in the coming weeks. Furthermore, this week the Bulgarian supplier has maintained prices unchanged at €610-620/mt CPT.
In the meantime, local Romanian rebar spot prices have remained stable at €590-605/mt ex-warehouse from last week. Similarly, rebar pricing from the sole domestic mill is stable at roughly €580-590/mt ex-works.
A similar stability has been observed in the wire rod segment, with retail prices quoted stable week on week at €570-595/mt ex-warehouse.
