Despite low end-user demand and local economic concerns, Romania’ sole rebar producer has continued to offer the same prices as last week whereas offers from Romanian-based traders have varied during the week. According to reports, while most of the traders have remained unchanged from before, others who noticed an increase in export offers have chosen to attempt raising their prices in an effort to move the market. However, most of the market players have reported that end-user demand is still below average and has stayed the same regardless of higher discounts or attempts of increase.
As a result, Romanian spot rebar prices have mainly remained unchanged from the previous week around €550-595/mt ex-warehouse, with some traders attempting to keep offer prices similar to or higher than €600-610/mt ex-warehouse. Meanwhile, Romania's sole rebar producer has continued to keep its rebar offers stable week on week at €570/mt ex-works.
In the wire rod segment, on the other hand, the outlook has remained depressing, though traders have stayed silent and have provided the same prices as the week before, which are roughly €570-600/mt ex-warehouse.
Furthermore, there have been some import offers this week with slight improvements noted in certain offers, although Romanian traders are still not enthusiastic about restocking partly due to the local grim outlook. According to sources, ex-Moldova rebar offers have risen by €15-25/mt to €590-600/mt CPT, while Bulgarian offers have remained reasonably stable at €585-590/mt CPT from last week. Additionally, ex-Greece offers for wire rod and rebar have been decreased by €20/mt each, to €615-635 and €635-655, respectively, on a CFR basis for delivery in July. Furthermore, Egypt has raised its rebar offers by €5-10/mt to €570-585/mt CFR for August shipment.
