SteelOrbis has been informed that ArcelorMittal Poland's HRC base prices in the Polish market are currently standing at the level of €340/mt ($474/mt) ex-works, excluding VAT. Meanwhile, the producer is offering 0.5 mm 275 gr/m² zinc coated HDG in the local market at effective sales levels of €630-650/mt ($878-905/mt) ex-works.
Looking at the import flats offers in the Polish market, Slovakian origin 2.0 mm HRC is being offered to Poland at €350/mt ($489/mt) DAF. Meanwhile, Russian origin HRC offers to the same country are currently at €360-380/mt ($501-529/mt) DAF.
All abovementioned offers are for new production.
It is mentioned in Poland that end-users have finally entered the market. This situation has placed doubts in the minds of some market players who had considered that the recent price uptrend lacked the support of real demand. It is said among market players that lead times for HRC are increasing up to six months, that end-users' high stock levels have started to melt and that the current rising price trend (backed by real demand) may continue.
On a more cautious note regarding the general economic situation in Eastern Europe and by implication in Poland, Bloomberg quotes the Bank for International Settlements (BIS) as stating that while growth led to large current-account surpluses and high savings ratios in China, locals in Eastern Europe borrowed in foreign currency, leaving their current accounts in deficit and making them more vulnerable to credit crises.
€1 = US$1.3929