The Romanian longs steel spot market has remained largely stable this week, though some traders have started to test slightly higher rebar prices amid rising oil and gas costs, which have increased production cost pressures across the market. However, these upward attempts have not yet become workable, as buyers have been reluctant to accept higher price ideas. At the same time, a number of traders have preferred to keep their offers unchanged while closely monitoring developments in energy costs and the import market. Demand in Romania has shown a slight improvement compared to previous weeks, though overall activity is still considered moderate. Meanwhile, the country’s sole domestic rebar producer has not issued fresh price offers to the market so far this week. Market sources indicate that the producer sold certain volumes from its existing warehouse stocks at relatively lower levels last week in an attempt to move inventory. As a result, market participants are now waiting for the producer’s next pricing decision, with many expecting higher offer levels once new quotations are announced.
Currently, workable rebar prices in the spot market are still reported at €590-600/mt ex-warehouse, though some traders have recently attempted to test levels around €5-10/mt higher. Meanwhile, the producer’s latest indications were heard at around €590-595/mt ex-works.
On the other hand, the wire rod segment has also remained stable, with traders quoting offers at €585-590/mt ex-warehouse, unchanged week on week amid still-limited demand.
In the import market, a similar trend has been observed, as rising costs have supported upward price movements. While some suppliers have preferred to keep their offers stable following the increases seen last week, others have implemented fresh price increases during the current week. According to market reports, the Bulgarian supplier that raised its prices last week has continued to keep its rebar offers at €630-635/mt CPT. Meanwhile, the Hungarian supplier has also opted to maintain its offers unchanged week on week, with its levels heard at €625-630/mt CPT. Among non-EU suppliers, an Egyptian mill has increased its offers for April shipment to €495-510/mt CFR for rebar and €505-515/mt CFR for wire rod, up from €495-500/mt CFR and €500-505/mt CFR, respectively. Similarly, Turkish suppliers have raised their rebar offers to €495-520/mt CFR, compared to €485-500/mt CFR previously, based on an exchange rate of €1 = $1.15 and estimated freight costs of €15-20/mt.
