Fastmarkets’ weekly assessment for steel reinforcing bar (rebar), domestic, cpt Poland — which has been falling since July 19 — reached 2,600-2,640 zloty ($669-679) per tonne on Friday, down by 10-20 zloty per tonne from 2,610-2,660 zloty per tonne on September 6.
A local producer offered rebar to many Polish steel traders at 2,600 zloty per tonne CPT, sources told Fastmarkets. This urged other mills in the country to adjust their offers to similar price levels.
Buyers estimated the tradeable market level at 2,600-2,640 zloty per tonne CPT, depending on tonnages.
Lower scrap prices on the Polish market were also among the reasons for the decreasing rebar prices, Fastmarkets understands.
Scrap prices in September contracts decreased by 90-110 zloty per tonne, a distributor source said.
“Consumers in Poland are aware of these developments, and when the local mills try to offer higher prices, they do not accept these offers,” the source added. “No one is buying huge volumes now due to the decreasing rebar prices.”
Competitive imports also put additional pressure on domestic prices.
German material was heard offered to Poland at €610-615 ($673-679) per tonne CPT. For deliveries close to the border with Germany, the price could drop to €605 per tonne CPT, sources told Fastmarkets.
Offers for November-delivery rebar from Ukraine were heard recently at €570 per tonne DAP border for material with 10-32 mm diameter, which nets back to €600 per tonne CPT.
According to a second distributor source, slow demand, combined with strong competition from imports, will continue to put downward pressure on Polish rebar prices.
