This week, the sole Romanian rebar producer and local traders have kept their offer prices stable week on week. Market participants, however, claim that, although the sole rebar producer is seeing high demand and selling a greater quantity to the local market, demand in the spot market has begun to decline somewhat in comparison to the previous week. Even if the spot market is under pressure, traders do not anticipate any price declines for the foreseeable future due to higher costs and the optimism in the scrap segment.
Currently, the sole Romanian rebar producer's prices have remained stable week on week at around €580-590/mt ex-works, while most traders have kept their rebar prices unchanged week on week at €590-605/mt ex-warehouse, with their wire rod offers stable at €585-595/mt ex-warehouse.
Furthermore, in the import market, after Turkey sold at least 30,000 mt of rebar to Romania in the previous two weeks, with the last deals closing at $555/mt FOB and with this level remaining the most appealing in the market, Romanian buyers have been silent about importing this week, possibly due to their high stocks and the EU quota nearing exhaustion. This week, Turkey's average rebar price has declined by €10/mt to €550-565/mt CFR Romania, based on a €1 = $1.05 exchange rate and a freight cost of €25-30/mt. Meanwhile, offers for rebar from Bulgaria have remained stable at €620-630/mt CPT over the past week. In contrast, Greece's rebar and wire rod offers to Romania have increased to €630-635/mt CFR and €620-625/mt CFR, respectively, up from €610-615/mt CFR and €620/mt CFR last week.