Despite persistently negative market factors including weak end-user demand, financial concerns which limited construction projects and the slow summer holiday period, the sole Romanian rebar producer has chosen to raise rebar prices. On the other hand, Romanian traders have kept their offers at last week's levels, though it is unclear how long they will be able to keep prices stable. According to the majority of traders, demand is not particularly strong and this week's decline in scrap prices has only made matters worse.
Over the past week, Romania's sole rebar producer has raised its prices by €20-25/mt to €605/mt ex-works. In contrast, Romanian rebar spot prices have remained stable at around €570-610/mt ex-warehouse.
Similarly, Romanian wire rod traders have chosen to maintain their offers despite price increases as the low business activity is not conducive to price hikes. As a result, their current offers are in the range of €570-600/mt ex-warehouse, the same as last week.
Moreover, most import offers have remained the same as last week. Accordingly, ex-Moldova and ex-Bulgaria rebar offers have remained at €620-630/mt CPT and €610-620/mt CPT, respectively. Likewise, Egypt has kept its prices for wire rods and rebar for September shipment both at €560-570/mt CFR. In addition, ex-Greece rebar and wire rod offers are at €615/mt CFR and €660/mt CFR respectively.