Following the example of the sole Romanian rebar producer in the previous week, the majority of Romanian rebar traders have decided to increase their offers this week. However, according to market participants, trade has not improved in accordance with prices and, with import prices dropping, it seems it will be difficult to maintain prices in coming weeks. Meanwhile, in the wire rod segment, traders have reduced prices since the local market remains weak and global longs prices are down.
The sole local rebar producer has decided to keep offers stable week on week at €580-590/mt ex-works. However, the majority of traders have increased their rebar offers by €5-10/mt week on week to €575-580/mt ex-warehouse.
In contrast, in the wire rod segment, most traders have offered lower prices at €570-585/mt ex-warehouse, down from €575-590/mt ex-warehouse last week.
In the import market, while there have been no import deals, some long steel offers for Romania have exhibited a downward trend. According to sources, Egypt's offers for rebar and wire rod have dropped to €575-580/mt CFR, down from €585-590/mt CFR last week. Similarly, ex-Turkey rebar offers have fallen by €5/mt to €580-600/mt CFR Romania, based on a €1 = $1.08 exchange rate and freight costs of €25-30/mt. On the other hand, rebar offers from Bulgaria to Romania have increased to €620-630/mt CPT, from €610-630/mt CPT past week, while Greece has offered rebar and wire rod at €620-625/mt CFR and €630-635/mt CFR, respectively.
