The bullish sentiment that emerged in the Polish rebar market in end-December faded early in January 2023 amid insufficient demand, sources told Fastmarkets on Friday January 13.
Steel rebar producers in Poland were maintaining offers at 3,430-3,450 zloty ($789-793) per tonne CPT (3,400-3,420 per tonne EXW) in the week to Friday, largely unchanged from the end of last month.
Attempts from one producer to push offers to 3,700 zloty per tonne CPT at the end of December were unsuccessful, sources said.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 3,400-3,450 zloty per tonne on Friday, unchanged since December 23.
Buying was quite slow during the assessment week, sources said.
“End of December was quite active; people were buying [rebar] for January, so now it’s slower,” a trading source said.
In the secondary market, rebar was offered and traded at around 3,500 zloty per tonne CPT, down from 3,540-3,570 zloty per tonne CPT at the end of December.
Buyers expected rebar prices in Poland to remain flat throughout January, while a downward correction in February was not unlikely should demand not pick up.
“In February it can go either way; electricity and gas prices are low now, so if there is not enough demand mills can lower the [rebar] price,” a second trader said.
Published by: Julia Bolotova