Polish domestic prices for steel rebar and wire rod remained broadly stable in the week to Friday April 10, with mills pushing for higher offers despite subdued trading activity following the Easter holidays, Fastmarkets heard.
Over the week, market sources pointed to a slowdown in demand for long steel products, as well as for processed products, such as reinforcing meshes, while the market regained pace following the break.
Market participants remained on a wait-and-see stance while they watched current geological events, including the latest developments in the conflict in the Middle East.
According to one source, there is “no way” that Polish steel mills will stop pushing for higher offer prices due to surging energy prices, which have been affecting production costs since before the start of the war between the US and Iran, as well as higher scrap costs.
“I do not see any possibility that prices can go down,” the source said, adding that steel mills must factor-in the effects of rising costs to their businesses.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, was 2,700-2,750 zloty ($746-760) per tonne on Friday, narrowing downward from 2,700-2,780 zloty per tonne the previous week.
Mills were heard to be targeting around 2,720-2,800 zloty per tonne CPT for rebar. But market sources said that prices of 2,800 zloty per tonne were not yet achievable in the market.
Estimates of workable prices were reported within the range of 2,700-2,750 zloty per tonne CPT on Friday.
Meanwhile, Ukraine was heard to be offering rebar to Poland at €645 ($756) per tonne delivered, for April and May delivery.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,800-3,000 zloty per tonne on Friday, unchanged week on week.
Across Europe, domestic markets for rebar and wire rod have remained quiet following the Easter break, with regional sources pointing to subdued demand, especially from the construction sector.
European producers keep on pushing for higher prices amid higher production costs and a sharp drop in import activity, Fastmarkets heard.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €670-700 per tonne on April 8, narrowing downward from €670-710 per tonne the previous week.
The corresponding weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €655-665 per tonne on the same day, unchanged week on week.
