As the significant downward pressure from weak conditions in the local market and abroad has not changed in recent weeks, Romania-based rebar traders have chosen to provide greater discounts, while the sole Romanian producer has continued to maintain offers unchanged. In addition, the persistent absence of demand and aggressive import offers raise concerns among market participants about prices in the coming period, with expectations that they will fall further.
“Nothing has changed, and unfortunately it appears that this trend will continue,” a trader commented to SteelOrbis.
Over the past week, Romanian traders have decreased their rebar prices to about €550-595/mt ex-warehouse, from €580-600/mt ex-warehouse before. Meanwhile, the sole rebar producer in Romania has kept its rebar offers stable week on week at €570/mt ex-works.
In contrast, traders in the wire rod category have decided to maintain prices at around €570-600/mt ex-warehouse despite the poor local market outlook.
On the other hand, while interest in importing remains low as well, there have been some import offers. Ex-Moldova rebar offers remain stable at €575/mt CPT, while Bulgarian offers have declined by €10/mt to €590/mt CPT since last week. In addition, ex-Greece offers for rebar and wire rod have been reported stable week on week at €635/mt and €655/mt, respectively, on CFR basis for July shipping. Further, Egypt has offered rebar at roughly €565-575/mt CFR for August shipment.