Prices for steel rebar and wire rod in Poland were unchanged over the week ended Friday May 9, in line with the recent slowdown in market activity over the early-May holiday period.
“The situation remains stable within the Polish market, with market participants still waiting to see what will happen with price trends,” a seller source told Fastmarkets.
Most market participants estimated the tradable market price for rebar at 2,640-2,700 zloty ($703-719) per tonne CPT.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, was 2,640-2,700 zloty per tonne on Friday, unchanged since April 25.
Trading was slow because buyers were being cautious about a possible reduction in scrap prices, which are a strong indicator for the long steel market.
“We expect scrap prices to go down quite a lot in the next few weeks, which will lower prices for steel,” another distributor source said, citing imminent market decisions by Polish and German scrap suppliers.
Wire rod
Prices for Polish domestic low-carbon drawing-quality wire rod were also stable in the week to Friday, sources told Fastmarkets. Some Polish mills were offering the material at prices of 2,800-2,950 zloty per tonne.
Industry sources estimated the tradable market at 2,770-2,850 zloty per tonne CPT.
Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,770-2,850 zloty per tonne on Friday, unchanged week on week.
Regarding imports, one mill was heard offering wire rod for €700-720 ($787-809) per tonne delivered, while some traders were said to be offering low-carbon wire rod for €640-660 per tonne delivered.
