Polish domestic long steel showed diverging trends in the week to Friday July 3, with rebar prices falling and wire rod prices widening amid subdued trading activity and a wait-and-see approach among market participants.
Uncertainty surrounding the European Commission’s newly introduced country-specific steel import quota allocations, combined with large volumes of imported material, weighed on buying activity in the domestic market.
“The market is paralyzed with new quotas and big volumes of import,” a producer source told Fastmarkets.
Rebar deals were reported to Fastmarkets at 2,700 zloty ($718) per tonne CPT, while the tradable level was around 2,650-2,790 zloty per tonne CPT, according to market participants.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Poland fell to 2,650-2,790 zloty per tonne CPT on Friday, from 2,700-2,820 zloty per tonne a week earlier.
Wire rod prices widened over the same period.
Offers were reported at 2,920-2,960 zloty per tonne delivered, while tradable levels were reported at 2,950-3,200 zloty per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland widened to 2,920-3,200 zloty per tonne delivered on Friday, from 2,980-3,190 zloty per tonne in the previous week.
