Due to seasonal considerations and a weak market, the price of long steel in Romania has continued to decline this week. At the same time, the market forecast is bleak and is unlikely to allow the market to recover due to very low demand, surplus stocks, and worldwide inflation, which exacerbates the weak market predicament.
Currently, domestic retail rebar prices in Romania vary at €700-740/mt ex-warehouse, which is a modest decrease from €715-740/mt ex-warehouse last Friday. Because of their enormous stockpiles, Romanian rebar traders have displayed very little interest in imports. Reports state that Greece has offered the same prices as last week at €790/mt delivered, while Moldovan prices have arrived at €735/mt delivered, a €10/mt decrease from last week.
Due to EU quota restrictions and limitations, Turkey's general pricing level is around €655/mt CFR, based on a $1 = €0.98 exchange rate and around €25-30/mt freight.
Romanian wire rod retail prices are at €725-740/mt ex-warehouse, a €10/mt decrease from the previous week. Despite having full stockpiles, the newest offers have been arriving from Moldova at €745-750/mt delivered, down from €780/mt the previous week, and Greece at €810-815/mt delivered, the same as the previous week.