Stability of spot prices for rebar in Romania with a slight decrease in prices by the only domestic manufacturer
The spot rebar market in Romania continued to show signs of stabilization this week, with prices remaining stable compared to the previous week. According to market sources, although there has been a short-term surge in demand in recent weeks, mainly due to earlier price declines, the current level of demand remains weak and unresponsive. At the same time, Romania's only domestic rebar manufacturer, faced with low demand typical for the summer period, adjusted its prices in line with spot market trends, slightly reducing supply last week.
Reports show that Romanian rebar dealers have maintained their prices since last week at the level of 580-595 euros/ton from the warehouse. In contrast, rebar prices in the domestic market decreased slightly to 585-590 euros per ton excluding production, compared with 590-605 euros per ton excluding production in the previous week.
Prices also remained stable in the wire rod market. Many traders continue to offer materials at a price of 580-590 euros per ton from the warehouse, as the overall demand is still not growing.
As for imports, there have been no reports of new deals, and buyer interest remains limited. Most buyers currently have sufficient inventory, and with the summer holidays approaching, significant buying activity is expected to resume only by the end of August or September. Currently, the target supply of rebar from Bulgaria for July material has decreased by 5 euros per ton to 605-615 euros per ton compared to last week. The offers from Greece remained in force last week: rebar costs 585-590 euros per ton, wire rod - 580-585 euros per ton.
As for imports from outside the EU, this material will be sold only in the next round of quotas (October 1). while the European material is available mainly for July-August. Thus, prices for rebar from Turkey decreased significantly, although during the week they increased by 10 euros per ton and amounted to 475-490 euros per ton CFR, based on the exchange rate of 1 euro = 1.16 US dollars and estimated transportation costs of 15-20 euros per ton. Meanwhile, the offers for rebar and wire rod from Egypt remained stable compared to last week and amount to 485-490 euros per ton and 500-505 euros per ton, respectively.
Steelorbis.com