As expected, prices in the local Romanian rebar market have risen slightly, though rather as a result of costlier scrap and longs import offers, than due to improved demand. Sources report that trade has remained slow while the stocks in the market are still high. “This little rise will be replaced by a price decline since it is apparent that the growth in the scrap market has not resulted in increased demand on the Romanian long steel side, and so the present modest orders will not translate into long-term demand, and the current increase will lead to a price decrease,” a trader told SteelOrbis.
By the middle of July, the domestic retail price for rebar in Romania has settled at €710-755/mt ex-warehouse, up €10/mt on the upper end over the past week. While sitting on high stocks, traders are still barely interested in imports, especially taking into account the upward trend of prices. Over the past week, ex-Greece rebar offers have increased by €30-40/mt to €780-790/mt delivered.
As for Turkey, Romania’s interest in rebar imports of this origin is scarce due to the quota issue and overall low market activity. The estimated price levels are at €725-50/mt CFR, according to the $1 = €1 exchange rate and around €25-30/mt freight.
Meanwhile, the domestic retail prices for wire rod in Romania are currently at €730-785/mt ex-warehouse, while last week most traders offered at €725-755/mt ex-warehouse and only some of them were offering at €770-780/mt ex-warehouse. In the import segment, Greece was offering at €800-810/mt delivered, compared to €780/mt delivered last week.