While Romania's sole rebar producer has continued to remain absent from the market and is scheduled to return with the new month, Romanian traders have chosen to maintain offers unchanged considering the forthcoming holiday. According to market participants, the increases seen last week failed to attract buyers' attention, and business activities remained sluggish. As a consequence of low demand in the local market, several dealers have chosen to provide discounts to serious purchasers.
Over the past week, the majority of Romanian rebar traders have decided to stick with their offers at €590-605/mt ex-warehouse whereas the sole rebar producer has persisted in withholding the offer from the local market. Nonetheless, according to sources, certain rebar traders give discounts and offers to serious purchasers of roughly €580/mt ex-warehouse.
In the wire rod market, although a bearish perspective has continued over the previous week, the majority of traders have quoted the same offers as last week. According to reports, this week's offers remained at around €580-595/mt ex-warehouse.
In the meantime, interest for imports by Romanian traders has remained low due to lack of demand in the local market and the impending holidays. According to sources, ex-Moldova has offered rebar to Romania for €610-620/mt CPT, which is the same as previous weeks' offers. Ex-Egypt rebar and wire rod prices increased from €590-595/mt CFR to €580-605/mt CFR. Moreover, ex-Greece has chosen to keep rebar and wire rod offers stable compared to last week at €645-650/mt CFR and €675-680/mt CFR, respectively. Meanwhile, Turkey’s average price level for rebar has decreased by €15-20/mt to €570-585/mt CFR based on a €1 = $1.10 exchange rate and approximately €25-30/mt freight.