Moderate demand in Polish rebar market

Domestic rebar demand has been moderate in Poland following a rather rapid business revival after the summer holidays in Europe. Stocks are reportedly low, while local mills’ prices are at PLN 1970-2070/mt (€434-456/mt) ex-works (excluding 23 percent VAT) in the Polish rebar market. “Also, currently we do not have attractive offers from import sources. Demand has recovered quickly after the summer holiday in Europe and we have been seeing better demand day by day since the beginning of September,” a trader told SteelOrbis.

According to sources, local buyers in Poland have been restocking over the past two weeks, but they are still maintaining their orders carefully due to the effects of Covid-19. However, some sellers are not very optimistic since end-user demand is said to be falling somewhat behind. “Global scrap prices have eased a little bit this week. In the best case scenario, we foresee moderate demand until mid-November and after that we expect slow market activities like in previous years because of the holiday season in the EU,” another trader told SteelOrbis.