Polish long steel prices moved higher in the week to Friday October 9, amid increasing production costs. Producers were targeting higher levels due to rising oil and energy costs; however, their efforts were constrained by slow demand.
“Demand is indeed weak and is not driving prices up; if anything, it is exerting downward pressure,” a distributor source told Fastmarkets.
Deals for drawing-quality wire rod were reported at 2,950 zloty ($754) per tonne for larger tonnages and 3,000-3,150 zloty per tonne for smaller volumes. Workable levels were heard at 3,000-3,150 zloty per tonne.
As a result, Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland narrowed upward to 2,950-3,150 zloty per tonne, from 2,900-3,150 zloty per tonne the previous week.
The domestic rebar market also showed signs of strengthening. Deals and offers for domestic rebar were heard at 2,750-2,780 zloty per tonne CPT.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, CPT Poland rose to 2,750-2,780 zloty per tonne, from 2,700-2,750 zloty per tonne the previous week.
