Although sentiments have not improved in the domestic market, Romania-based rebar traders have chosen to modestly increase offers in an effort to see if higher pricing would be accepted by customers. While this is going on, poor end-user demand and Romania's financial difficulties continue to have a negative influence on business activities, leading to the majority of market participants continuing to provide discounts to serious customers.
Over the last week, Romanian spot rebar prices have risen by €15-20/mt reaching €570-610/mt ex-warehouse. In contrast, Romania's sole rebar producer has maintained its offers from prior weeks around €580-585/mt ex-works.
Meanwhile, in the wire rod segment, silence has prevailed as adverse conditions persist. According to market reports, current offers are in the range of €570-600/mt ex-warehouse, the same as last week.
Furthermore, while trade activity has been sluggish, there have been some offers in the import segment this week. Accordingly, ex-Moldova rebar offers have increased by €30/mt to €620-630/mt CPT, while ex-Bulgaria have maintained their offers as prior week at €610-620/mt CPT. Similar to Bulgarian offers, Egypt has likewise maintained its prices for wire rod and rebar for September shipment both at €560-570/mt CFR. In addition, Italian suppliers have offered rebar and wire rod at €565/mt FCA and €570-580/mt FCA respectively although the information has not been confirmed until publication. Also, Romanian buyers should consider prices to be at €605/mt and €610-620/mt, respectively, for rebar and wire rod on a delivered basis since the expected transport cost from Italy to Romania is €40/mt.
