Even though the sole Romanian rebar producer and domestic traders decided to drastically lower prices last week to attract more customers, this week they have chosen to maintain their prices. According to market participants, despite continuing local economic issues and weak demand, some developments in the scrap market have raised expectations of price rises in the coming weeks, which is why Romanian-based traders have decided to keep an eye on market movements
“Everyone in Romania but also including the European market is expecting increases in prices in the following weeks.” a trader said to SteelOrbis.
Currently, the only domestic mill has kept offers stable week on week at €630/mt ex-works. Similarly, Romanian retail rebar prices have remained as last week at €630-650/mt ex-warehouse.
Furthermore, in the Romanian wire rod market prices have remained at roughly €640-650/mt ex-warehouse. Still, some traders are attempting to sell at around €660-670/mt ex-warehouse.
Meanwhile, in the import segment, Romanian traders still have been showing little interest in imports owing to a lack of demand, but, also due to higher offers from other European markets, there are not so many offers for the Romanian market.
“I haven't talked with European producers as their prices, even the reduced ones, are not so competitive in Romania.” a trader told SteelOrbis.
Current import rebar offers in Romania are ex-Bulgaria at around €630-640/mt CPT and ex-Egypt at €595-600/mt CFR, while, according to sources, Turkey has offered rebar at €560/mt FOB, which should be at about €585-590/mt CFR, but buyers need to consider quota issues.