Despite the last week's announcement of lower tariff-rate quota volumes, which had some impact on wire rod segment pricing, this week no price movements have been seen in spot market prices of rebar and wire rod in Romania. The sole rebar manufacturer has also kept prices stable week on week. The market's present outlook, according to market participants, is not supportive of an upward trend since the demand sector is not robust enough to sustain increases. Meanwhile, in the import segment, no new deals have been reported since the majority of buyers anticipate a new quota period.
As a result, 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 €595-600/mt ex-warehouse.
Furthermore, as previously stated, no fresh deals have been recorded in the import market since purchasers are not in a hurry to restock due to the upcoming new quota period, and demand in the domestic market remains low. According to reports, Bulgaria's rebar offers have remained stable at €620-630/mt CPT, while Greece's rebar and wire rod offers are stable week on week at €620-625/mt CFR and €610-615/mt CFR, respectively. Similarly, Egypt's rebar and wire rod offers have not changed since last week, at €550-555/mt CPT and €560-565/mt CPT, respectively. In addition, Turkey's rebar offers are stable at around €555-570/mt CFR Romania, based on a €1 = $1.08 exchange rate and a freight cost of €25-30/mt.
