Polish mills remained bullish this week and offered rebar at 2,900-2,920 Polish zloty ($720-725) per tonne CPT, which would net back to 2,880-2,890 zloty per tonne ex-works.
An even higher offer price of 2,950 zloty per tonne CPT was reported heard in the market, which would net back to about 2,920 zloty per tonne ex-works. But this price was not confirmed by market participants and it was excluded from Fastmarkets’ final assessment.
In comparison, last week, Polish mills mostly offered rebar at 2,900 zloty per tonne CPT, about 2,880 zloty per tonne ex-works.
Most market participants described trading as “quiet” this week, although some deals for large volumes were heard.
“Two significant deals for around 5,000-10,000 tonnes each took place this week,” a consumer source told Fastmarkets. These were traded around 2,880 zloty per tonne CPT, about 2,850 zloty per tonne ex-works. But these deals discarded from the assessment because the volumes did not comply with Fastmarkets’ methodology.
Last week, smaller quantities of about 300 tonnes were traded around 2,850 zloty per tonne CPT, 2,820 zloty per tonne ex-works. Fastmarkets excluded this level from its assessment as well, because the deals were concluded in the previous assessment period.
Deals for 12mm rebar this week were heard at 2,870 zloty per tonne ex-works.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,870-2,890 zloty per tonne on Friday, up by 10-20 zloty per tonne from 2,860-2,870 zloty per tonne on January 19.
According to Fastmarkets’ sources, prices for rebar in the secondary market varied in the range of 2,850-2,900 zloty per tonne CPT.
Offers of imported material from Italy were heard at €660 ($717) per tonne CPT, and from Moldova at €665 per tonne CPT.
Polish mills continued to offer wire rod in the range of 3,000-3,300 zloty per tonne CPT in the week to January 26, market sources said.
But the tradable price was estimated at 2,900-3,100 zloty per tonne CPT. Deals for small volumes were heard in that price range.
Consequently, Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,900-3,100 zloty per tonne on January 26, up by 100 zloty per tonne from 2,800-3,000 zloty per tonne on January 19.
“This week, Polish mills were sending material from their orders for [production in] January. New offers for February are expected soon,” a distributor source told Fastmarkets.
They added that demand from all industrial sectors remained weak, and that there was no restocking activity.
Offers of imported material from Italy were heard in the range of €670-699 per tonne CPT.
Import offers of mesh-grade wire rod from Ukraine were heard at €660-670 per tonne CPT, Fastmarkets heard, and some deals for such material were concluded at prices in that range.
Published by: Darina Kahramanova