Prices for Polish rebar are falling due to uncertainty about quotas and import pressure
A week before Friday, July 3, long products prices in Poland showed mixed trends: rebar prices fell, while wire rod prices rose amid low trading activity and a wait-and-see attitude of market participants.
Uncertainty related to the recently introduced country-specific steel import quotas by the European Commission, combined with the large volumes of imported materials, have affected consumer activity in the domestic market.
"The market is paralyzed by new quotas and large volumes of imports," a producer source told Fastmarkets.
According to market participants, Fastmarkets concluded rebar deals at a price of 2700 zloty ($718) per ton without VAT, while the market level was about 2650-2790 zloty per ton without VAT.
Fastmarkets' weekly price estimate for rebar steel rods for domestic consumption in Poland dropped to 2650-2790 zlotys per ton on Friday from 2700-2820 zlotys per ton a week earlier.
Over the same period, wire rod prices have increased.
Offers were reported at a price of 2920-2960 zlotys per tonne delivered, while the available trading levels were indicated at 2950-3200 zlotys per tonne delivered.
Fastmarkets' weekly price estimate for domestic steel rod (drawing quality) supplied to Poland increased on Friday to 2920-3200 zlotys per ton from 2980-3190 zlotys per ton in the previous week.
Author: Niya Radenkova
Fastmarkets.com