Polish domestic wire rod prices remained steady in the week to Friday May 29, while rebar prices widened, with slow market activity due to weak demand.
Market participants reported reduced activity, with fewer offers and indications heard during the week due to the holiday season in Europe.
“Demand is rather average; worse than last week,” one distributor source told Fastmarkets.
The tradable price for wire rod was said to be around 3,000-3,050 zloty ($828-841) per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,000-3,100 zloty per tonne on Friday, unchanged week on week.
In contrast, rebar prices widened over the same period.
Tradable prices were reported within the range of 2,830-2,950 zloty per tonne CPT, compared with 2,850-2,900 zloty per tonne CPT on May 22.
Market participants said that higher offers of 2,950 zloty per tonne had been heard, although trading at those prices was limited.
“There is low demand and high inventories,” a seller source told Fastmarkets.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, widened to 2,830-2,950 zloty per tonne on Friday, from 2,850-2,900 zloty per tonne the previous week.
