Although demand remains low, Romanian long steel retailers have decided to raise prices this week, mainly due to increasing global pricing and the impact of scrap prices, which began to rise following the earthquakes in Turkey.
“Something unexpected happened this week, and all retail rebar prices have increased. Unfortunately, demand is still weak, and so the question is how we can maintain these prices,” a trader told SteelOrbis
Currently, retailers’ rebar prices have increased by €20/mt from the previous week to €690/mt ex-warehouse, while Romania's sole domestic rebar supplier has kept prices stable week on week at €650-660/mt ex-works.
“Especially because of the crisis in Turkey, right now scrap prices have risen worldwide, including in Romania. Aside from that, everything is currently highly expensive, not only in the building industry, and the economic ups and downs are making buyers exceedingly weary and are even discouraging them from making purchases,” a trader commented to SteelOrbis.
Meanwhile, the wire rod market's bleak prognosis remains unchanged. This week, retailers have chosen to maintain last week's wire rod pricing, at €675-680/mt ex-warehouse.
Nevertheless, although Romanian traders have ample supplies and lack business activities, this week's import offers are almost nonexistent. There was just rebar offers from Egypt, down by €5–10/mt CFR week on week to €675–680/mt CFR, for shipments in April and May, while Bulgaria has opted not to offer this week because it believes the market will rise further, and instead the Bulgarian will just monitor market conditions.
