After the Easter holidays in Romania, the market situation remained calm, and the supply remained stable last week. Although some firms are still on vacation and the market is expected to see more accurate data next week, some market participants believe that prices may fall next week due to the current sluggish demand, as well as a significant decline in global scrap metal prices. Meanwhile, according to sources, the only manufacturer of fittings is going to stop production in the coming days due to scheduled repairs over the next two months.
At the moment, the prices of rebar from the sole of the household combine are stable and amount to about €590-605/Ex-work mt. Similarly, local spot prices for rebar in Romania remain stable and amount to 610-620 euros per ton from the warehouse compared to last week.
A similar stability is observed in the wire rod segment, where retail prices remain stable week after week at the level of €580-595 per ton from the warehouse.
Meanwhile, there is a similar lull in the import market after the Easter weekend. As a result, most of the offers remained unchanged, and no new purchases have been made since last week. According to sources, the offers for fittings from Bulgaria have not changed since last week and amount to about 620-640 euros per ton, excluding VAT. In addition, the offers for rebar and wire rod from Egypt remain stable week after week and amount to 550-555 euros per ton without VAT and 560-565 euros per ton without VAT, respectively. However, due to a significant decrease in scrap metal prices, the supply of Turkish fittings to Romania at an exchange rate of 1 euro = 1.14 US dollars and the cost of transportation in the amount of 25-30 euros per ton decreased by 10-20 euros per ton to 500-510 euros per ton compared to last week. In addition, according to reports, in the second half of April, Romanian buyers concluded a last-minute deal with Turkey for the supply of about 40,000 tons of rebar at FOB prices of 540-550 dollars per ton.
