Given domestic extremely low-end user demand and financial issues, Romanian-based long steel traders who attempted to push up prices in the past couple of weeks have failed, reducing prices this week, while Romania's sole producer has decided to remain silent and kept prices the same as last week. On top of that, according to market participants, longs prices in Turkey and scrap prices have been trending downward, which has negatively influenced Romanian long steel market prices and purchasers' expectations.
“Unfortunately, all prices have decreased in recent days, and I think they will decrease even more, also as demand is still low. Especially the decline from Turkish producers has impacted the market, and all clients are expecting lower prices,” a trader told SteelOrbis
Over the past week, Romanian rebar spot prices have decreased by €25/mt to €570-585/mt ex-warehouse. In contrast, Romania's sole rebar producer has maintained its prices at €605/mt ex-works.
Similar to rebar traders, Romanian wire rod traders have also chosen to provide price reductions considering that business activities have remained at extremely low levels. According to reports, the current offers are at around €570-580/mt ex-warehouse, from €570-600/mt ex-warehouse in the previous week.
Meanwhile, the majority of import offers have also begun to decline this week, but Romanian buyers remain uninterested and prefer to buy only when necessary, as the local outlook has remained adverse. As a result, ex-Moldova and ex-Bulgaria rebar offers have dropped by €15-20/mt and €10/mt to €605-610/mt CPT and €610/mt CPT, respectively. Likewise, ex-Greece rebar and wire rod offers have decreased by €15/mt and €50/mt to €600/mt CFR and €610/mt CFR, respectively. Egypt, on the other hand, has maintained its prices for wire rods and rebar for September shipping at €560-570/mt CFR.
