Following the European Commission's announcement of decreased tariff-rate quota volumes, the Romanian long steel market has begun to anticipate increased domestic market price movement. However, no price swings have occurred in Romania, and offers from Romania's sole rebar producer and traders have remained stable over the last week. On the other hand, with the announcement of quota reductions, some traders anticipate difficult times for the domestic market, while others are keeping an eye on how the market adjusts.
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 €570-595/mt ex-warehouse.
Meanwhile, in the import market, after Turkey sold some rebar to Romania in the previous week at $555-560/mt FOB, Romanian buyers have remained silent on imports this week, probably due to their sufficient supply and recent EU quota changes. However, this week, Turkey's average rebar price has increased by €5/mt to €545-560/mt CFR Romania, based on a €1 = $1.09 exchange rate and a freight cost of €25-30/mt. In contrast, Bulgaria's rebar offers have remained stable week on week at €620-630/mt CPT. In addition, Egypt, which had been missing for a few weeks, has returned to the market this week, offering rebar and wire rod at €550-555/mt CPT and €560-565/mt CPT, respectively.
