The price situation in Romania's long steel market has been quiet for two consecutive weeks due to a persistent lack of demand, surplus stocks, and local economic concerns. In addition, many traders believe that, along with local unfavorable trends, price volatility makes the market outlook uncertain.
“We don't know what's going on, but it's certain that demand is weak and business activities remain slow. Yet, I believe it is most likely due to market uncertainty generated by the fear of price instability,” a Romanian trader told SteelOrbis.
Meanwhile, some aggressive rebar traders attempted to sell at higher prices of €690-700/mt ex-warehouse at the beginning of the week, because the market rejected these levels towards the end of the week, they had to lower their price targets.
According to reports, Romanian rebar retailers have kept their offers unchanged at €670-680/mt ex-warehouse. Likewise, the sole local rebar producer has kept its prices stable at €650-660/mt ex-works.
Furthermore, no changes have occurred in the Romanian wire rod market this week, with prices still at around €675-680/mt ex-warehouse, with a few major traders still trying to sell at about €690-700/mt ex-warehouse.
Since demand for imports from Romanian long steel traders is diminishing, activity has almost been at a standstill. Greece has offered rebar and wire rod at €720-730/mt CFR and €740-750/mt CFR, respectively, for April shipment.
