Polish rebar prices dropped in the week to Friday, May 23 due to weak demand, while wire rod prices remained stable amid declines, Fastmarkets sources said.
"The situation with rebar is worse than with wire rod, because the supply of rebar is unlimited[in contrast to wire rod], while demand is low, so manufacturers are forced to sell at any price," a customer source told Fastmarkets.
The Polish long products market has also been showing signs of depression recently due to lower scrap prices in Europe.
In the week leading up to Friday, some Polish factories reported selling their fittings at prices of 2,580 zlotys ($682) per ton, excluding VAT, according to the source. However, in the previous week, the real market level was estimated at 2600 zloty per ton of CPT.
While rebar offers ranged from 2600-2640 zlotys per tonne of CPT during the week up to Friday, May 16, transaction prices were, according to our latest estimate published in May, the price of CPT was 2580 zlotys per tonne. 23
In addition, the offers fluctuated around 2580-2600 zlotys per ton of CPT during the week up to May 23.
Fastmarkets Weekly Price Assessment by David Montagner
fastmarkets.com
