Romanian long steel traders' prices have fallen this week as a result of the ongoing lack of demand, competitive offers from foreign suppliers, and surplus stockpiles. Despite the adverse conditions, Romania's sole rebar manufacturer has opted to keep its prices stable, while offering discounts to serious purchasers.
The sole domestic rebar producer in Romania has maintained its pricing at €720-725/mt ex-works, while rebar prices in the retail sector have decreased by €30/mt week on week to €675-700/mt ex-warehouse.
Furthermore, in the wire rod segment, larger traders are still not offering due to very weak business activities, while some smaller retailers in Romania have dropped their wire rod prices by €30-40/mt to €675-690/mt ex-warehouse as compared to last week.
Meanwhile, competitive offers are seen in the import segment, but Romanian traders are not interested due to surplus stocks and low demand. According to sources, there are two ex-Italy offers, one for rebar at €700/mt delivered to Oradea and the other for wire rod at €640-650/mt FCA, compared to the ex-Italy offers for wire rod and rebar at €670/mt and €740/mt CFR last week, respectively.
“Because demand is very low, we prefer for the moment to buy from the local market in small quantities,” a Romanian trader told SteelOrbis.
Regarding Turkey, according to sources, Romania recently booked rebar at $620/mt FOB, and with the freight of €25-€30/mt and the $1 = €0.96 exchange rate, the price level is around €621-626/mt CFR.