Romanian long steel prices once again fell this week as a result of the country's economic issues, this week's abrupt changes in the currency rate, and worldwide inflation. Due to the significant influence of these variables on demand and the market's slowdown in business activity, most Romanian traders are not optimistic about the forthcoming new month.
“As we approach the winter season, we will notice a decrease in business activity which is finally coming to a halt. Our local market is unprepared for this winter's actual conditions, and future conditions are worse. Due to high costs, poor sales volumes, and other factors, it is expected that EU companies would stop production. In this regard, there will be some shortages in the market, while consumption is difficult to forecast,” a trader indicated to SteelOrbis
In Romania, retail rebar prices range from €700-720/mt ex-warehouse, down from €700-740/mt ex-warehouse two weeks earlier. In the meantime, Romanian rebar traders have shown little interest in imports due to the excessive stockpile. According to reports, Bulgaria offered €720-735/mt delivered, while Moldova prices came in at €720/mt delivered, a €15/mt drop from two weeks ago.
Based on a $1 = €1,01 exchange rate and around €25–30/mt freight, Turkey's recent pricing level is about €675-705/mt CFR due to quota limitations.
Retail prices for Romanian wire rod are €720-730/mt ex-warehouse, a €5-10/mt lower compared to two weeks ago. The latest offers have been coming from Moldova at €730–740/mt delivered, down from €745-750/mt in the previous weeks. Taking into account full stocks, not many buyers are interested in wire rod purchases.