Polish domestic rebar and wire rod prices rose in the week to Friday November 6, driven by high production costs despite persistently weak demand, with market participants expecting further price increases, sources told Fastmarkets.
Deals and offers for rebar were heard at 2,900 zloty ($660) per tonne CPT during the assessment week.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, CPT Poland narrowed upward to 2,900-2,950 zloty per tonne on Friday November 6, from 2,850-2,950 zloty per tonne the previous week.
Market participants reported prevailing bullish sentiment despite weak underlying demand, although activity at cut-and-bend facilities remained strong. High production costs continued to put pressure on the market.
Sources also reported higher levels of exports, which they linked to limited supply from other countries.
In the wire rod market, offers, workable levels and deals for drawing-quality material were reported at 3,100-3,200 zloty per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland rose to 3,100-3,200 zloty per tonne on Friday November 6, from 2,900-3,150 zloty per tonne the previous week.
