Prices for Polish steel fittings are falling due to weak demand and oversupply
Polish steel rebar prices softened during the week on Friday, July 4, with lower demand and oversupply from factories affecting the market, industry sources told Fastmarkets.
During the week to Friday, mills were heard offering prices of 2,480-2,500 zlotys ($685-691) per ton, CPT, compared with 2,520-2,550 zlotys per ton of CPT last week.
Proposals were made for 2,500 zlotys per ton of CPT.
The price drop was attributed to sources in the market for "lower demand" and "sparse sales," which are said to be affected by long steel prices both in Poland and in the broader European market.
Last week's higher temperatures and oversupply from the mill were allegedly having an impact on the market, which would lower rebar prices, trade sources said.
As a result, Fastmarkets’ weekly price estimate for steel reinforcing bars (rebar), domestic, checkpoint Poland, was 2.480-2,500 zlotys per ton on Friday, falling from 2500-2,550 zlotys per ton last week.
Wire rod
Meanwhile, prices for domestic low-carbon figure-quality wire rod remained stable during the week through Friday, Fastmarkets heard.
The offers were heard, ranging from 2,700-2,800 zlotys per ton, CPT, the same as in the previous week.
But market participants pointed out that the workable market price for wire rod in Poland was still 2.680-2.720 zlotys per ton of CPT on Friday, as in the previous weight.
Therefore, Fastmarkets' estimate of the price for steel wire (picture quality), domestic, supplied in Poland, was 2.680-2.720 zlotys per ton on Friday, unchanged over the week.
Some import prices from Ukraine were heard at €570 ($669) per ton, which is on the border of the DAF.
David Montagnier
Fastmarkets.com