Rebar prices in Romania are stable, spot prices for wire rod are under pressure from weak demand
Prices for Romanian rebar remained stable this week as the country's only domestic manufacturer and local traders maintained their offers. In the wire rod segment, on the contrary, there was a slight decrease, reflecting a decrease in demand.
The ongoing holiday period in Romania, combined with general low activity across the EU, has kept the market calm. However, with September approaching and the start of a new quota period this week, there was some interest and unconfirmed deals, in particular with Romanian buyers supplying fittings from Turkey.
In the domestic market, offers from the sole manufacturer of fittings are priced at 585-590 euros per ton, while retail prices throughout Romania remained unchanged at 580-595 euros per ton from the warehouse.
On the contrary, wire rod dealers, reacting to the decrease in demand, slightly reduced their offers to 575-585 euros per ton from the warehouse, compared with 580-590 euros per ton, which were reported the previous week.
Activity in the import market began to grow as the new EU quota period approached and the summer vacation period ended. According to market sources, Romanian buyers have shown interest in rebar and wire rod from Turkey, with estimated prices of $530-545 per ton on FOB terms, although purchase data remains unconfirmed. Turkish factories are currently offering export offers at a price of 535-550 dollars per ton on FOB terms, which at an exchange rate of 1 euro = 1.16 dollars corresponds to 475-490 euros per ton CFR for delivery to Romania, as in the previous week. Other suppliers from non-EU countries, such as Egypt, maintained stable offers for October shipments at prices of rebar 485-490 euros per ton CFR and wire rod 495-500 euros per ton CFR. Within the EU, Bulgaria slightly reduced its supply offers in September-October from 600-610 euros per ton to 595-605 euros per ton, excluding VAT. In addition, Moldova entered the market this week, offering fittings at a price of 590-600 euros per ton.
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