Kallanish notes that the introduction of CBAM and a new trade regime in the EU has stabilized and raised steel prices, thereby increasing the profitability of Polish steel distributors listed on the stock exchange. According to the Bowim distributor, the demand and prices for ,
,They stabilized in the first half of 2026 after an earlier period of market correction. Higher prices in the second quarter compared to the same period last year and the use of the first-in, first-out (fifo) inventory accounting method led to an increase in the profitability of steel trading, Stalprofil notes. Polish market participants also expect support from the Polish local content program, which aims to increase the share of domestic suppliers in public infrastructure projects, she adds. Revenue
Bowim for the first half of the year fell by 6% compared to the same period last year and amounted to 842.4 million Polish zlotys ($228.2 million), but net profit was 17.9 million Polish zlotys compared with a loss of 1.3 million Polish zlotys a year earlier. Revenue
Stalprofil grew by 7% in the first half of the year to 579.1 million Polish zlotys, while net profit increased by 1,960% to 10.2 million Polish zlotys.
Bowim, however, notes that "the market environment remains volatile, especially in terms of energy costs, the pace of recovery in demand in steel-consuming sectors, and geopolitical risks. According to the company, a gradual improvement in economic activity, as well as the current regulations and terms of trade in the European Union, can help stabilize sales and pricing conditions. " However, in the first half of the year, the manufacturer of electrical steel and cold-rolled profiles, Stalprodukt, had the opposite results. The company has not yet released its preliminary results, but clarified that revenue in the electrical steel segment decreased by 36% in the first half of the year compared to the average revenue for the first half of 2024 and 2025.
The decrease is explained by "a significant increase in sheet metal imports to Europe at prices markedly different from European cost factors," the report says. Solid notes. "The unfavorable price factors faced by steel refiners, including transformer sheet, have further worsened competition in the international market. In the issuer's opinion, this situation is the result of operating conditions in the European Union."
,By Adam Smith,
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