Given ongoing low demand, which has slowed further as Easter approaches, and the notable decline in the Turkish scrap and longs markets, Romanian rebar spot traders have decided to lower prices compared to last week. The majority of traders feel that prices have returned to normal levels since the higher levels were difficult for buyers to accept, and they consider that the market will be quiet in the next few weeks due to the Easter holidays. Meanwhile, the sole rebar producer and wire rod spot traders have kept their prices stable week on week.
Over the past week, Romanian traders have decreased their rebar prices to about €610-620/mt ex-warehouse, from €610-630/mt ex-warehouse last week.
Meanwhile, the sole domestic rebar producer has kept its prices unchanged week on week at €590-605/mt ex-works.
In the wire rod segment, although softness has been observed in the rebar segment and demand is generally limited, the majority of traders have quoted prices at €580-595/mt ex-warehouse, unchanged from last week.
On the other hand, while interest in importing also remains slow, there have been some import offers. Ex-Bulgaria rebar offers have dropped from last week to €620-640/mt CPT, down from €635-640/mt CPT. In contrast, Turkish rebar offers to Romania based on a €1 = $1.14 exchange rate and freight costs of €25-30/mt have decreased by €30/mt to €510-530/mt CFR since last week. In addition, ex-Egypt offers for rebar and wire rod have been reported stable week on week at €550-555/mt CPT and €560-565/mt CPT, respectively. Greek suppliers’ rebar and wire rod offers are also unchanged week on week, at €615-625/mt CFR and €610-615/mt CFR, respectively.