The Romanian longs market's long-standing negative trend has continued this week, contributing to poor sentiment. As a result of persistently poor demand and local economic obstacles, Romanian traders have decided to decrease their prices. Meanwhile, according to sources, the sole domestic rebar producer has kept prices unchanged week on week while giving discounts to serious buyers.
“There is almost no demand. Prices are going down, but unfortunately there are no orders,” one trader told SteelOrbis
Over the past week, traders’ rebar prices have decreased by €10/mt week on week to €640-660/mt ex-warehouse. On the other hand, Romania's sole domestic rebar supplier has kept prices stable week on week at €650-660/mt ex-works.
On the other hand, traders’ offers for wire rods in Romania have also been trending down this week, and are now standing at €655-670/mt ex-warehouse, down €10-15/mt from last Friday.
Furthermore, in the import segment offers have been limited considering Romanian traders are still not showing much interest since there are higher stocks and better prices in the domestic market. According to reports, Bulgaria have offered rebar at €660-670/mt CPT while Italy has offered wire rods at €620/mt FCA.