Since prices were expected to rise following the announcement of decreased tariff-rate quota volumes last week, Romanian wire rod traders, who had also seen some demand throughout last week, responded by raising prices. However, in the rebar segment, the sole rebar producer and local traders in Romania have decided not to adjust their offers over the past week. Market participants say that, given the current state of the market, particularly the sluggish business activity and high stock levels, a price rise is difficult to achieve.
As a result, in the wire rod segment, most traders have offered increased prices at €595-600/mt ex-warehouse, up from €570-595/mt ex-warehouse last week.
Meanwhile, the sole Romanian rebar producer's prices have remained stable week on week at around €580-590/mt ex-works, while most traders have kept their rebar prices unchanged week on week at €590-605/mt ex-warehouse.
On the other hand, the import market has been quiet since traders have been active in recent weeks, while existing stocks are sufficient. According to sources, rebar offers from Bulgaria have remained stable at €620-630/mt CPT. Similarly, Egypt's rebar and wire rod offers have remained unchanged from last week, at €550-555/mt CPT and €560-565/mt CPT, respectively. In contrast, Turkey's rebar offers have risen to €555-570/mt CFR, up from €545-560/mt CFR Romania, based on a €1 = $1.09 exchange rate and a freight cost of €25-30/mt. In addition, this week, Greece's rebar and wire rod offers have been submitted at €620-625/mt CFR and €610-615/mt CFR, respectively, while Hungary's rebar offers have been heard at €580-590/mt CPT.
