The Romanian long products market is stable, but demand remains low
The Romanian long products market remained stable last week, while business activity remained low. Most spot traders of long products, as well as the country's only rebar manufacturer, decided to keep prices unchanged last week. Despite stable prices, market sources report that general conditions in the domestic market remain weak as demand remains sluggish and previous price cuts have failed to stimulate sales. In addition, sources say that recent changes in the government have led to a reduction in both public and private investment. With the summer period approaching, market participants expect financial difficulties for several months ahead.
"Unfortunately, sales in Romania are at a low level. The Government has not yet been formed, and investments have significantly decreased in both the public and private sectors. Prices decrease only with large volumes of purchases," said a SteelOrbis trader.
Currently, the prices of rebar from the only Romanian manufacturer remain stable week after week and amount to 590-605 euros per ton from the factory, while the prices of rebar from traders have also not changed and amount to 590-600 euros per ton from the factory.warehouse.
Similarly, the prospects in the wire rod segment remain pessimistic: traders continue to offer prices at the level of 580-595 euros per ton from the warehouse, as they did last week.
No new purchases were reported on the import market. However, Greece's offers for rebar and wire rod remain stable at 600-605 euros per ton and 595 euros per ton, respectively. Similarly, the supply of Bulgarian rebar remains stable compared to last week and amounts to 610-630 euros per ton, excluding VAT. In contrast, the supply of Egyptian rebar and wire rod decreased to 505-510 euros per ton and 520-525 euros per ton, compared with 510-520 euros per ton and 535-545 euros per ton last week. Similarly, the supply of Turkish fittings to Romania decreased by 10 euros per ton and now stands at 490-510 euros per ton CFR, based on the exchange rate of 1 euro = 1.16 US dollars and the cost of transportation of 25-30 euros per ton
.steelorbis.com