Low demand has pulled down the domestic prices for steel rebar and wire rod in Poland in the week ending Friday, August 9. The summer holiday slowdown has also contributed to the poor consumption, with mixed expectations of a possible price rebound in the autumn months.
Polish mills continued to offer rebar at 2,750 zloty ($694) per tonne CPT, but producers were willing to give discounts, with some volumes sold at 2,650-2,700 zloty per tonne CPT. Market participants estimated the tradeable market level at 2,650-2,700 zloty per tonne CPT. Some sources suggested rebar could be sold at 2,600 zloty per tonne CPT, though this was not confirmed by the market. The weekly price assessment for steel reinforcing bar (rebar), domestic, CPT Poland, was 2,650-2,700 zloty per tonne on Friday, down by 30 zloty per tonne from the previous week.
Demand remains weak, with little chance for a price increase in the third quarter, according to a distributor source. Prices could slide further in September when all mills are back in the market and demand does not improve. However, a producer source noted that the construction sector in Poland has been performing comparatively well and hoped that demand would improve after the summer, supporting a price rebound. Offers of rebar from Germany to Poland were heard at €615-620 ($672-677) per tonne CPT.
For wire rod, offers of Polish low-carbon drawing-quality wire rod were heard at 2,900 zloty per tonne, with some volumes traded at 2,850 zloty per tonne CPT. Buyer sources estimated the tradeable market level at 2,700-2,800 zloty per tonne CPT, though producer sources did not agree with the lower end of that range. The price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,800-2,850 zloty per tonne on Friday, narrowing downward by 50 zloty per tonne from the previous week.
Demand for low-carbon drawing-quality wire rod remains low due to summer holiday absences. Offers of low-carbon drawing-quality wire rod from Italy were heard at €650-680 per tonne CPT, while mesh-grade material from Ukraine was offered to Poland at €625 per tonne CPT.
