Following the election held last weekend, which resulted in stable currency exchange rate levels, Romanian long steel spot traders have opted to keep prices unchanged week on week. However, in terms of trading activities, players stated that local demand has not demonstrated any improvement and has remained steady, albeit at limited levels, this week. On the other hand, the sole Romanian rebar producer which is not presently producing has no new offers, so the previous offers have continued to be heard, but, according to sources, there is not much interest in the sole producer owing to a lack of essential materials.
Currently, the majority of traders have kept their rebar prices unchanged week on week at €595-610/mt ex-warehouse, with their wire rod offers stable at €580-595/mt ex-warehouse. Meanwhile, as previously stated, the sole Romanian rebar producer has not made any fresh offers, and earlier offers of roughly €590-605/mt ex-works continue to be heard in the market, stable week on week.
Furthermore, there have been some import offers this week, though interest from Romanian traders has remained minimal. According to sources, offers for rebar from Bulgaria have remained stable at €610-630/mt CPT. Likewise, Egypt has also kept its rebar and wire rod offer prices unchanged at €510-520/mt CPT and €535-545/mt CPT, respectively. Greece, on the other hand, has offered rebar and wire rod at €605/mt CFR and €595/mt CFR, respectively. Meanwhile, Turkey's average rebar price has also remained stable week on week at €515-530/mt CFR Romania, with a €1 = $1.13 exchange rate and around €25-30/mt freight.