Despite minimal demand and local financial difficulties, the sole Romanian producer and local traders have decided to keep their prices stable. However, some Romanian traders have chosen to attempt higher levels to see how the market responds since, according to market participants, the prices of longs and scrap in Turkey have been moving up, which has affected the Romanian long steel market. In spite of this influence, the majority of long steel traders in Romania have chosen to play it safe as domestic circumstances continue to look bleak.
As a result, the pricing range for domestic origin rebar in Romania is now at €600-605/mt ex-works, unchanged from the previous week. Retail rebar prices, as well, are stable week on week at €570-585/mt ex-warehouse.
Meanwhile, retail pricing for wire rods in Romania has remained stable at €570-590/mt ex-warehouse since last week.
Meanwhile, as previously stated, some traders are attempting to provide rebar and wire rod offers that are quite higher than feasible levels, at €590/mt ex-warehouse and €595-600/mt ex-warehouse, respectively.
Furthermore, some offers have been heard in the import segment, but no purchases have taken place since Romanian traders previously bought several lots. As a result, this week's ex-Moldova rebar offers are stable at €600/mt CPT, while Greece's rebar and wire rod offers have remained stable at €605-610/mt CFR and €615-620/mt CFR, respectively. Similarly, ex-Egypt offers for both rebar and wire rods have been maintained at €565-575/mt CFR for December shipment.
