The Romanian long steel market has remained stable in the past week, with business activity continuing at a slow pace. Most long steel spot traders, along with the country’s sole rebar producer, have chosen to keep prices unchanged over the past week. Despite stable prices, market sources report that overall conditions in the domestic market remain weak, as sluggish demand persists and previous price cuts have failed to stimulate sales. Additionally, sources report that recent changes in the government have led to a decline in both public and private investments. With the summer period approaching, market players expect a financially difficult few months ahead.
“Unfortunately, sales in Romania are weak. The government has not yet been formed, and investment has decreased significantly in both the public and private sectors. Prices only drop for larger-volume purchases,” a trader told SteelOrbis.
At present, rebar prices from Romania’s sole producer remain stable week on week at €590-605/mt ex-works, while traders’ rebar prices are also unchanged, at €590-600/mt ex-warehouse.
Similarly, the outlook for the wire rod segment remains pessimistic, with traders continuing to offer prices at €580-595/mt ex-warehouse, the same as last week.
In the import market, no new purchases have been reported. However, Greek offers for rebar and wire rod remain steady at €600-605/mt CFR and €595/mt CFR, respectively. Similarly, Bulgarian rebar offers have remained stable from last week at €610-630/mt CPT. In contrast, Egyptian rebar and wire rod offers have declined to €505-510/mt CPT and €520-525/mt CPT, down from last week’s €510-520/mt CPT and €535-545/mt CPT. Likewise, Turkish rebar offers to Romania have dropped by €10/mt, now at €490-510/mt CFR, based on an exchange rate of €1 = $1.16 and freight costs of €25-30/mt.