Despite the unfavorable market outlook, mostly due to a persistent lack of demand and local economic issues, domestic long steel offers from the sole Romanian producer and local retailers have remained stable. Moreover, according to market players, for now discounts would have failed to trigger sales due to weak end-user activity, but next week a downturn seems unavoidable.
“We anticipated more demand following the holiday, but this did not occur, and prices stayed the same,” a trader told SteelOrbis.
Over the past week, Romania's sole domestic rebar supplier has kept prices stable at €650-660/mt ex-works. Likewise, traders’ rebar prices are stable from the previous week at €660-670/mt ex-warehouse.
The wire rod segment has also maintained its bearish outlook, and traders have decided to keep prices at €670-680/mt ex-warehouse for the current week.
Meanwhile, in the import segment, as Romanian traders have ample supplies and given the ongoing weakness of business activities, the number of offers has been scarce. There was just an offer from Greece for rebar at €690-700/mt CFR, down €10/mt CFR from the previous week, while wire rod offers from Greece are unchanged at €720-730/mt CFR.
