In the week to Friday, October 30, rebar prices in Poland rose, while wire rod for drawing was unchanged. Trading activity slowed, but producers were helped by favorable export conditions, sources told Fastmarkets.
“Trade in the market is slower now. We’ll see what happens in November,” a distributor representative told Fastmarkets.
Offers for drawing-quality wire rod were 3,000–3,100 zlotys ($761–787) per tonne, within the previous assessment range.
For the week, Fastmarkets left its assessment of the domestic Polish price for drawing-quality wire rod, delivered, unchanged at 2,900–3,150 zlotys per tonne.
By contrast, domestic rebar prices moved higher over the week.
Offers were reported at 2,850–2,950 zlotys per tonne CPT, with workable levels at 2,920–2,930 zlotys. A deal at 2,950 zlotys per tonne was also reported.
Market participants said Polish producers had sent their first batches of products to Ukraine. The weakening zloty, which made the exchange rate more favorable, provided an additional incentive to export.
The increase in shipments to Ukraine followed Russian strikes on Ukrainian steel mills in August and September this year, which caused critical damage to infrastructure.
On Friday, Fastmarkets raised its weekly assessment of the domestic Polish price for rebar, CPT, to 2,850–2,950 zlotys per tonne. A week earlier, the range was 2,780–2,840 zlotys per tonne.
Author: Nia Radenkova
fastmarkets.com