“The situation is worse with rebar than with wire rod, because rebar supply is not limited [in contrast to wire rod] while demand is low, thus producers are forced to sell at any price,” a buyer source told Fastmarkets.
The long steel market mood in Poland has also shown signs of depression lately due to cheaper European scrap prices.
Over the week to Friday, some Polish mills reported selling their rebar at 2,580 zloty ($682) per tonne CPT, a source said. During the preceding week, however, estimations of the workable market level were at 2,600 zloty per tonne CPT.
While offers for rebar hovered around 2,600-2,640 zloty per tonne CPT during the week to Friday May 16, deal prices were heard at 2,580 zloty per tonne CPT during our latest assessment published on May 23.
Additionally, offers hovered around 2,580-2,600 zloty per tonne CPT the week to May 23.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Poland was 2,580-2,600 zloty per tonne on Friday, falling from 2,600-2,650 zloty per tonne on May 16.
However, a distributor source said that they believe prices for rebar steel have bottomed out.
Wire rod
The prices for Polish domestic low-carbon drawing quality wire rod remained stable in the week to May 23, sources told Fastmarkets.
Market participants indicated that workable prices were 2,750-2,850 zloty per tonne CPT in the week to Friday
Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland was also 2,750-2,850 zloty per tonne on Friday, unchanged week on week.
Some import prices were heard at €580 ($648) per tonne, DAP border, and hovering around €595-620 per tonne CPT.
Marina Shulga in Dnipro, Ukraine, contributed to this report
