Polish mills were heard offering rebar at 2,600-2,610 zloty ($678-681) per tonne CPT during this assessment period, Fastmarkets heard.
According to Fastmarkets’ sources, this was also the tradeable market level for large tonnages. Buyers’ estimation for the workable market level for small volumes was 2,620-2,630 zloty per tonne CPT.
Fastmarkets’ weekly assessment for steel reinforcing bar (rebar), domestic, cpt Poland reached 2,600-2,630 zloty per tonne on Friday, narrowing downward by 10 zloty per tonne from 2,600-2,640 zloty per tonne on September 13. This price has been on a downtrend since July 19.
In the secondary market, prices for rebar from stock were heard at 2,680-2,700 zloty per tonne CPT, depending on the region.
“The demand from the cut-and-bend companies is big, but it still cannot match the oversupply,” a distributor source told Fastmarkets.
The downward trend for the Polish rebar prices will continue, this source said, and larger tonnages could be traded at 2,550 zloty per tonne CPT by the end of the month.
Sources told Fastmarkets that one rebar producer in Poland was planning production cuts by the end of September to try to balance the market.
Commenting on the possibility of output cuts, a producer source told Fastmarkets that it would be better to limit supply, instead of decreasing prices further.
“These price levels are not sustainable. No one [among Polish producers] is making money selling at this level,” they said.
Strong competition from imports, as well as lower scrap prices on the Polish market pushed rebar prices down. Scrap prices in September contracts decreased by 90-110 zloty per tonne.
Published by: Darina Kahramanova
