In a weak market, the price range of Polish steel rebar is expanding; wire rod prices are stable
Domestic wire rod prices in Poland remained stable during the week until Friday, May 29, while rebar prices rose with low market activity due to weak demand.
Market participants reported a decrease in activity as fewer offers and instructions were received during the week due to the holiday season in Europe.
"Demand is quite average, worse than last week," one of the distributors told Fastmarkets.
It was stated that the market price for wire rod is about 3000-3050 zloty ($828-841) per ton delivered.
Fastmarkets' weekly price estimate for domestic steel rod (drawing quality) supplied from Poland on Friday was 3,000-3,100 zlotys per ton, unchanged over the week.
On the contrary, rebar prices have increased over the same period.
The selling prices were indicated in the range of 2830-2950 zlotys per ton without VAT, compared to 2850-2900 zlotys per ton without VAT on May 22.
Market participants reported that there were offers for a higher price - 2950 zlotys per ton, although trading at these prices was limited.
"There is low demand and high inventories," a sales source told Fastmarkets.
Fastmarkets' weekly price estimate for steel rebar, domestic, cpt Poland, was raised on Friday to 2830-2950 zlotys per ton from 2850-2900 zlotys per ton in the previous week.
Author: Niya Radenkova
Fastmarkets.com