This week, Romanian long steel prices in the spot market have remained largely stable, mainly supported by the recent upward movement in import offers amid rising energy and freight cost expectations linked to the war in the Middle East. As import prices have moved higher, local prices have managed to hold their ground, while discounts have largely disappeared from the market. Although overall demand in Romania remains slow, market participants report slightly better activity compared to previous weeks, with some Romanian traders securing purchases earlier in the week in anticipation of further price increases. Meanwhile, the sole domestic rebar producer, currently selling mainly from existing stocks, has reduced its offer levels in an attempt to stimulate sales, though market participants note that selling at these levels may prove difficult given the still high production costs.
As a result, the Romanian sole rebar producer has decreased its offers to €590-595/mt ex-works, down from €610/mt ex-works week on week, while in the spot segment workable rebar levels are still heard at €590-600/mt ex-warehouse.
Meanwhile, a similar stability has been observed in the wire rod spot market, with traders quoting unchanged offers at €585-590/mt ex-warehouse amid slow demand.
In the import market, increases have been observed from the majority of suppliers, although some have preferred to keep their offers stable or have temporarily withdrawn from the market. According to reports, the Bulgarian supplier sold some lots to Romania at the beginning of the week at €605-615/mt CPT, but later increased its rebar offers to €630-635/mt CPT. Meanwhile, the Hungarian supplier has opted to keep its offers unchanged week on week, with its levels heard at €625-630/mt CPT. Among non-EU suppliers, an Egyptian mill increased its offers in the last contract for March shipment to €495-500/mt CFR for rebar and €500-505/mt CFR for wire rod, up from €485-490/mt CFR and €495-500/mt CFR, respectively. However, no fresh offers have been heard this week as the supplier is reported to be assessing the market situation, with new quotations for April shipments expected next week. Similarly, Turkish suppliers have increased their rebar offers to €485-500/mt CFR, compared to €475-485/mt CFR previously, based on an exchange rate of €1 = $1.16 and estimated freight costs of €15-20/mt.