Following the weakening of the local currency, Romanian flat steel spot traders have decided to soften offers slightly compared to the previous week. Furthermore, with the second election day approaching this weekend, the majority of market players stated that the market is in a state of confusion, with demand being minimal throughout the week. On the other hand, Romania’s sole flat steel producer has decided to remain silent about the start of production operations. Financial difficulties and requirements for raw materials are reported to be preventing the producer from returning to business and beginning production soon.
In the local flat steel spot market, the majority of traders have decreased their hot rolled sheet (HRS) prices week on week by €10-15/mt to €715-735/mt ex-warehouse. Similarly, offers for cold rolled sheets (CRS) have fallen to €820-840/mt ex-warehouse, from €835-850/mt ex-warehouse last week.
Meanwhile, in the import market, HRS and CRS offers from Ukraine remain unchanged for delivery to Romania at €640/mt and €730/mt, respectively. According to the sources, Romanian customers have not shown much interest due to the upcoming election, and imports remain inactive. Similarly, HRC offers from Turkey have remained stable, with FOB prices of $540-565/mt and shipping costs of around €25/mt, arriving in Romania at roughly €505-530/mt CFR, unchanged from last week.
