Since the global upward trend has persisted as a result of rising scrap prices and fluctuations in Chinese prices, Romanian long steel spot traders have chosen to raise their prices in order to gauge the local market sentiment. However, according to market insiders, trade has been limited this week and appears insufficient to sustain an upward price trend in the long run. In the meantime, the sole rebar producer in Romania, which is seeing steady demand, has kept its prices stable while monitoring the market.
This week, the sole domestic mill’s rebar price is stable week on week at €565-575/mt ex-works. On the other hand, Romanian rebar traders have increased their offers by €5-15/mt week on week to €565-575/mt ex-warehouse.
Similarly, amid the general rises in longs prices, wire rod prices in Romania have risen slightly. This week, traders are selling at workable levels of around €575-590/mt ex-warehouse, up by €5/mt from the previous week.
Moreover, in the import market, according to reports, Egypt has decided to increase its offers for both rebar and wire rod to €585-590/mt CFR for November shipment, from €525-530/mt CFR and €540-545/mt CFR previously, respectively. Likewise, Turkish rebar offers to Romania based on a €1 = $1.09 exchange rate and freight costs of €25-30/mt have increased to €595-605/mt CFR, from €565-590/mt CFR last week. On the other hand, rebar offers from Bulgaria to Romania remain unchanged at €600-630/mt CPT, while Greece has offered unchanged rebar and wire rod offers from last week at €610-615/mt CFR and €620-625/mt CFR, respectively.
