Polish mills offered rebar at about 2,800 Polish zloty ($675) per tonne CPT during the assessment week, which nets back to about 2,780 zloty per tonne ex-works, sources told Fastmarkets.
Demand remained soft and no major deals were heard in the market.
Buyers continued to push for lower prices. Bids for larger quantities of about 1,000 tonnes were heard at 2,720 zloty per tonne CPT, which nets back to about 2,700 zloty per tonne ex-works.
But, according to a buyer source, the workable level for Polish domestic rebar is 2,750 zloty per tonne CPT, which nets back to about 2,730 zloty per tonne ex-works.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 2,700-2,780 zloty per tonne in the week to November 10, widening downward 30 zloty per tonne from 2,730-2,780 zloty per tonne on November 3.
“Demand is generally weak. There is no restocking because the traders still have material bought at below 2,700 zloty per tonne CPT. In addition, the demand from the construction sector and the prefabrication producers is weaker [in the week to November 10],” a distributor source told Fastmarkets.
Prices of domestic rebar in the secondary market decreased slightly to 2,770-2,780 zloty per tonne CPT, compared to 2,780-2,800 zloty per tonne in the previous week.
Offers of imported material from Italy were heard at around €620-630 ($662-673) per tonne CPT, but these levels were not widely accepted by the market.
“Italy seems to be out of the market with these prices,” a second distributor source told Fastmarkets. Even lower offers of imported rebar from Italy at €615 were considered too high for the Polish market.
Offers of imported material from Ukraine were heard at €560 per tonne DAP border.
Polish mills continued offering wire rod in the range of 2,900-3,100 Polish zloty per tonne CPT this past week, sources told Fastmarkets.
But demand for the material remained moderate and no major deals were heard.
According to Fastmarkets’ sources, the workable level for wire rod varied between 2,850 zloty and 2,900 zloty per tonne CPT.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 2,850-2,900 zloty per tonne on November 10, narrowing upward by 50 zloty per tonne from 2,800-2,900 zloty per tonne on November 3.
A market source told Fastmarkets that Polish producers considered increasing wire rod prices by €30 for November-rolling material but gave up the idea due to the poor demand.
According to a third distributor source, the demand for wire rod was slightly better during the assessment period, but it remained still weak.
“It is not restocking yet, [but] the end users need wire rod for their production”, the source said.
Offers of imported material from Italy were heard between €620-640 per tonne CPT depending on the destination.