Polish rebar market slows for holidays, with price rises likely in January, sources told Fastmarkets on December 23.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 3,400-3,450 ($776-787) zloty per tonne on Friday, up by 50 zloty per tonne from 3,350-3,400 zloty per tonne the previous week.
The assessment was based on a few deals, the lower end of offers and buyer estimations of achievable prices.
One producer in Poland was firmly offering rebar at 3,700 zloty per tonne CPT. This equates to about 3,650-3,670 zloty per tonne ex-works. No bookings have been reported at this price level so far.
Another Polish producer was reportedly selling rebar in the local market at 3,400 zloty per tonne CPT (3,350 zloty per tonne EXW).
Buyer indications of achievable prices, meanwhile, were heard at 3,350-3,450 zloty per tonne EXW.
Trading was slow in the nation during the assessment week due to approaching holidays.
Sentiment was cautiously optimistic for January, with higher offers expected to be at least partially accepted in deals due to a moderate pick-up in end-user demand and tighter supplies.
Local electric-arc furnace-based mill, Cognor, has been out of the market since mid-December to modernize its equipment and is only expected to be back in the market with offers early in the second quarter of 2023.
“There has not been much demand [in the week to December 23] but buyers are [beginning to believe] that price increases [for rebar] are inevitable,” the trading source said.
Published by: Julia Bolotova