Romanian long steel retailers have struggled to keep prices stable and have finally reduced their prices. The primary reason is the persistent poor demand from end-users as well as economic concerns. Another factor is that the upcoming Easter holidays have caused business activities around Europe to slow down, with the impact expected to be felt for the next two weeks.
As a result, Romanian retailers' workable rebar prices have declined by €10/mt to €660-670/mt ex-warehouse, while, according to sources, certain traders are still giving lower prices at €650/mt ex-warehouse. Currently, the domestic mill’s rebar prices have remained unchanged over the past week at €650-660/mt ex-works.
As the overall mood remains depressed, wire rod prices have also declined. This week, larger retailers are selling at workable levels of around €670-680/mt ex-warehouse, down by €5/mt from the previous week.
Moreover, in the import segment, there have been offers from Greece for rebar and wire rod at €700-710/mt CFR and €720-730/mt CFR, respectively, unchanged, while Moldova has offered rebar at €700/mt delivered to Romania. Italy's rebar offers have been at €640/mt FCA, alongside other mills offering €660/mt FCA. Local market participants estimate the delivery cost to Romania at €40/mt, and so Romanian purchasers may consider €680-700/mt for rebar on delivered basis.
