Polish prices for steel rebar softened during the week ended Friday July 4, with reduced demand and oversupply from mills affecting the market, industry sources told Fastmarkets.
Over the week to Friday, mills were heard offering prices around 2,480-2,500 zloty ($685-691) per tonne CPT, compared with 2,520-2,550 zloty per tonne CPT the previous week.
Deals were also heard at 2,500 zloty per tonne CPT.
The drop in prices was attributed by market sources to “lower demand” and “rare sales,” which they say were affecting long steel prices both in Poland and in the broader European market.
Last week’s higher temperatures and oversupply from mills were also believed to have had an effect on the market, driving down rebar prices, trade sources said.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, was 2,480-2,500 zloty per tonne on Friday, falling from 2,500-2,550 zloty per tonne the previous week.
Wire rod
Meanwhile, prices for Polish domestic low-carbon drawing-quality wire rod remained stable in the week to Friday, Fastmarkets heard.
Offers were heard hovering around 2,700-2,800 zloty per tonne CPT, the same as in the previous week.
But market participants indicated that the workable market price for wire rod in Poland was still 2,680-2,720 zloty per tonne CPT on Friday, as in previous wees.
Therefore, Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,680-2,720 zloty per tonne on Friday, unchanged week on week.
Some import prices from Ukraine were heard at €570 ($669) per tonne, DAP border.
