Given the currency swing that has weakened the local currency against the euro, Romanian rebar spot traders have decided to adjust their prices. As a result, the majority of the Romanian rebar spot traders have decided to decrease offers over the past week. Meanwhile, the sole rebar producer and wire rod spot traders have decided to keep their prices unchanged week on week. However, according to market players, despite some declines in the rebar segment, demand has been somewhat greater but still limited, probably due to purchasers' worries about the results about the second round of elections to be held on Sunday.
Over the past week, Romanian traders have decreased their rebar prices to about €595-610/mt ex-warehouse, from €610-620/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.
Even though rebar prices have weakened owing to the currency fluctuations, the wire rod segment has remained stable. Most traders have quoted prices at around €580–595/mt ex-warehouse, the same as last week.
On the other hand, while interest in importing remains low in response to the uncertain outlook, some import offers have emerged. Ex-Bulgaria rebar prices have remained unchanged since last week, at €610-630/mt CPT. In contrast, Turkish rebar offers to Romania based on a €1 = $1.12 exchange rate and freight costs of €25-30/mt have risen by €10-15/mt to €515-530/mt CFR since last week. Furthermore, Egyptian suppliers have maintained wire rod pricing relatively stable at €535-545/mt CPT, while lowering rebar offer prices to €510-520/mt CPT from €530-535/mt CPT last week. Greek suppliers’ rebar and wire rod offers are unchanged week on week, at €605/mt CFR and €595/mt CFR, respectively.