Romanian long steel traders have returned to the market after being absent for many weeks due to the Christmas and New Year holidays. Unfortunately, the market outlook is negative with a sluggish mood and poor demand, and so most long steel traders have chosen to keep their offers unchanged and just monitor the market for the time being.
Meanwhile, the sole domestic rebar producer, which had previously temporarily resumed operations due to the domestic market's depressing outlook, has not resumed operations, and market participants have stated that the producer will make a decision based on market conditions and may return at the end of January or February.
According to market reports, the majority of Romanian rebar traders have decided to maintain their offers at €590-605/mt ex-warehouse, while the sole rebar producer has continued to withhold offers in the local market.
In the wire rod market, the same strategy has been observed. Even though demand is at minimum levels, most traders have quoted the same prices as before the holiday at around €580–595/mt ex-warehouse.
In the import segment, a deal has been reported from Turkey to Romania for 3,000 mt of rebar at $615/mt FOB, which is roughly €585-590/mt CFR to Romania. However, this information could not be confirmed by the time of publication. Currently, Turkey's average rebar price has risen by €10/mt to €580-595/mt CFR, with a €1 = $1.10 exchange rate and around €25-30/mt freight. Meanwhile, offers for rebar from Moldova have been heard at €610-620/mt CPT, which is in line with earlier offers. While Egypt has kept its wire rod offers at €605/mt CFR, while its rebar prices are down €5/mt from previous weeks to €575/mt CFR. Furthermore, Greece has decided to raise rebar offers by €15-25/mt €670-675/mt CFR, while lowering wire rod offers by €15/mt €660-665/mt CFR.
