Rebar prices have declined in the Romanian domestic market, as buyers have continued to maintain a wait-and-see approach amid expectations of further decreases. Furthermore, market players claim that, because local rebar purchases are weak, imports have nearly stopped for now and stock levels in the market are quite high nowadays.
“At the present, the market is in freefall. We are hoping for a miracle since prices are falling and stocks are full. Buyers are either purchasing the bare minimum or nothing at all, and we predict further declines in the coming weeks,” a local trader told SteelOrbis.
This week, Romanian domestic retail rebar prices are standing at around €870-920/mt ex-warehouse, versus around €940-980/mt ex-warehouse seen last week. On the other hand, some traders, according to sources, are offering €820/mt ex-warehouse, aiming to boost sales. “But these prices are not matching the purchase prices and traders are trying to find buyers and minimize their stocks,” a market player said.
Under the current circumstances, Romanian rebar traders are not much interested in restocking on the import side. The latest prices, according to sources, have been coming from Greece at €980/mt delivered, while ex-Ukraine prices have been reported at as high as €1,030/mt delivered, most probably for ready cargoes. No solid offers have been heard from Turkey this week, but, taking into account the mills are at around $750-760/mt FOB and with freight around $25-30/mt, the levels should be at around €725-740/mt CFR, which is quite workable. However, it seems that Romanian buyers are not willing to risk it for now amid the unclear quota situation and sufficient purchases ex-Turkey rebar previously.
In the wire rod segment, local prices have decreased by €10-35/mt ex-warehouse from last week, at the moment workable prices are at €905-950/mt ex-warehouse.