The local low-end user demand and financial problems that have been eroding the market for a few months have prevented the sole Romanian rebar producer from trying to hold prices steady in recent weeks. As a result this week, prices have been reduced. While Romanian-based traders have chosen to stay quiet and have maintained their pricing at last week's levels, sources claim that because of slow business conditions, some of the traders provide discounts to serious purchasers.
“The situation is getting worse and worse. No one wants to hear about the increase and most traders have lost a lot of money. Because there is no demand, I no longer believe in growth,” a trader said to SteelOrbis.
As a result of significantly low demand, Romania's sole rebar producer has decreased its prices by €25-30/mt to €575-580/mt ex-works from last week. Romanian rebar spot prices, on the other hand, have mostly stayed steady from the previous week at approximately €570-585/mt ex-warehouse, with certain traders attempting to draw clients' attention by offering at around €560/mt ex-warehouse.
Similar to rebar traders, Romanian wire rod traders have also chosen to provide the same prices as before though business activities have remained at extremely low levels. According to reports, the current offers are at around €570-580/mt ex-warehouse.
In the import segment, according to sources, ex-Moldova has reduced its rebar offers by €25-30/mt to €575/mt CPT while Bulgaria has offered rebar at €595-600/mt CPT. Meanwhile, Egypt has kept their offers as before for the wire rod and rebar for October shipment at €550-555/mt CFR.
