The Romanian retail longs market, which had been on a weak trend owing to economic and financial issues, as well as insufficient demand, has swung toward price increases this week due to a minor uptick in demand. In addition, the import segment has stalled due to fewer offers, and the offers that have arrived are not welcomed by Romanian traders since they are considered to be too high.
“Prices in Romania are rising slightly since demand is a little higher than the previous week. Nonetheless, buyers expect a drop in October due to additional material arriving with the fourth quarter quota in the coming weeks. On the other hand, it appears that there is a bit of a market standoff in the import section, with no aggressive offers from anyone, but also not much interest from purchasers,” a trader told SteelOrbis
Domestic retail rebar prices in Romania currently range at €735-750/mt ex-warehouse, up from €715-745/mt ex-warehouse the previous week. According to sources, Greece's offers have risen to €790-820/mt delivered, up from €790/mt delivered last week. Similarly, Bulgaria has raised its offers by €30/mt over the past week to €800/mt delivered.
As for Turkey, the estimated price level is around €724–750/mt CFR at the $1 = €1.03 exchange rate and about €25–€30/mt freight. However, since the fourth quarter quota capacity is limited, buyers must carefully assess their choices.
Furthermore, retail prices for wire rods in Romania have increased by €5/mt to €720-770/mt ex-warehouse. While in the import segment, accordingly, Greece has offered at €770/mt delivered, down from €780/mt delivered reported in the previous week.