This week, the upward trend in Romania’s rebar spot market has continued, while the sole Romanian sole rebar producer and the wire rod spot segment have kept offers stable from the previous week.
Although the start of the new EU quota period resulted in a rise in pricing, especially in the rebar segment, this increase did not translate into increased demand and trading volumes remain limited in the domestic market.
According to market participants, as the Easter weekend approaches, prices may fall slightly since purchasers, seeing big price increases, are less likely to want to buy at the current prices.
The sole domestic mill’s rebar price is stable week on week at €590-605/mt ex-works. On the other hand, Romanian rebar traders have increased their offers by €10-25/mt week on week to €610-630/mt ex-warehouse.
In the wire rod market, many traders have maintained their pricing at €580-595/mt ex-warehouse from last week as demand has remained unsupportive of an increase.
Meanwhile, in the import market, while most offers remain flat and no purchases have been concluded since last week, Bulgarian suppliers have increased their offers. According to sources, Bulgaria has raised rebar offers to roughly €635-640/mt CPT, up from €610-620/mt CPT last week.
However, Egyptian suppliers have kept rebar and wire rod prices unchanged week on week at €550-555/mt CPT and €560-565/mt CPT, respectively. Furthermore, Greece’s rebar and wire rod offers remain stable week on week, at €620-625/mt CFR and €610-615/mt CFR, respectively.
In contrast, this week Turkey’s average rebar price has fallen by €10-15/mt to €540-560/mt CFR Romania, based on a €1 = $1.11 exchange rate and freight costs of around €25-30/mt.
