The price situation in the long steel market of Romania has been quiet for two consecutive weeks, though the improved scrap price trend has given local sellers some hopes for a market improvement. Still, some market players believe this is merely an expectation and that the negatives such as high stock levels and low demand will prevent price increases.
Currently, higher scrap prices are the main reason for increased import prices from Moldova and Greece, Romanian buyers say, adding that the main Italian supplier has decided to suspend sales for now. “There is now an expectation of demand in the domestic market as well as in the export market, and we believe that we will see more in the coming days, but for now we hear price increases among Romanian long steel market traders, though there is no certainty,” a trader indicated to SteelOrbis.
Local Romanian retail rebar prices are stable at €710-745/mt ex-warehouse but, according to sources, some traders are trying to decrease their stocks and sell at €690-700/mt ex-warehouse. At the same time, some other traders are trying to achieve €755-765/mt ex-warehouse, though with no takers.
Overstocked Romanian rebar traders have been barely interested in imports for over a month. According to reports, the latest prices in Moldova jumped to €750/mt delivered, from €727/mt delivered last week, while Greece's prices increased by €55/mt over the past week to €760/mt delivered.
No firm offers from Turkey have been received for two weeks due to low Romania’s interest amid the EU quota situation and high stocks. However, based on Turkey's pricing of $700/mt FOB, the estimated delivered price is €670-675/mt CFR Romania at the €1 = $1.02 exchange rate.
In Romania’s wire rod market, domestic retail prices have remained at €725-755/mt ex-warehouse, while some sellers have started targeting €770-780/mt ex-warehouse, which is not yet considered workable. In the import segment, the most recent offers from Greece were at €780/mt delivered, which was lower last week at €710/mt delivered, but once again Romania does not need to restock.