The sole Romanian rebar producer and local traders have chosen to keep their prices stable this week, just like they did in the previous week, in spite of decreased levels of demand. Though traders and the sole producer have continued to seek higher prices, the majority of market players believe that prices will soon fall since the demand side has not been showing interest. Additionally, reports indicate that, even if the domestic producer has kept prices stable, it will reveal new offers in the coming weeks and the market will change accordingly.
The sole producer’s rebar prices have been kept at €595-600/mt ex-works for the time being. In the same way, Romanian rebar traders have managed to keep their pricing unchanged week after week at €580-600/mt ex-warehouse.
In the meanwhile, the persistent lack of demand in the wire rod market is mostly the cause of silence in terms of offers. Sources claim that, compared to the rebar segment, the wire rod segment has substantially less business activity. As a result, the majority of traders' offers have remained stable at around €570-580/mt ex-warehouse compared to the previous week.
Furthermore, in the import market, since Romanian importers are not showing interest considering the bleak local outlook, according to sources Greece and Italy have chosen not to offer to Romania at the moment. On the other hand, Moldova and Bulgaria have maintained the same rebar prices of €600-610/mt CPT and €610-620/mt CPT, respectively, compared to last week. Egypt, meanwhile, has reduced its wire rod and rebar offers for December shipment by €5–25/mt to €560-565/mt CFR. Moreover, Turkey has offered rebar at around €545-555/mt CFR to Romania, which may be of interest to buyers in the short run for October and November shipments.
