Slow demand drags on Polish steel rebar prices, rebound unlikely in short term

Steel rebar prices in Poland inched downward in the seven days to Friday February 10 amid seasonally slow demand from the construction industry, with a rebound unlikely this month, Fastmarket has heard.
There was almost no trading in the country during the assessment week, with buyers holding back from making deals, citing the low demand from the construction sector, which is the main end-user.

“Demand has generally stopped altogether. Winter and snow are not helping,” a trading source in Poland said.

Offers from local mills of 12mm rebar were heard at 3,330-3,400 zloty per tonne CPT, which would be equivalent to 3,300-3,350 zloty per tonne ex-works, but rare deals for small volumes were heard at 3,300 zloty per tonne ex-works during the week.

“Nobody is buying more than [enough to fill] one truck,” a second trader said.

Another trading source agreed, saying that during the assessment week most of the purchases that were reported were hand-to-mouth.

Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 3,300 zloty ($747) per tonne on Friday, narrowing from 3,300-3,350 zloty per tonne the previous week/

In general, sources expected rebar prices in the country to remain flat in February, or to correct downward again, because demand was likely to remain lackluster in the short-run.

Italian producers were offering rebar for March delivery to Poland at €700-710 ($752-763) per tonne CPT, but no sales were reported during the week.

Published by: Julia Bolotova