In the Polish rebar market, demand has remained strong and stocks have failed to increase over the past two weeks. In this situation, rebar prices have increased by PLN 320-350/mt (€71-77/mt) to PLN 3,250-3,400/mt (€718-751/mt) ex-works. Market participants are still very optimistic for the coming period and new prices have already been accepted by buyers in the market.
"We have really good end-user demand. Also, our projects have restarted after they had been postponed due to Covid-19 lockdowns for a long time. Producers are operating with limited capacity and spot stocks are low. Global scrap prices are over $500/mt. In this situation, buyers have little reason for making objections and we can easily say we will see further increases in Polish rebar prices. Producers have already aimed at over PLN 4,000/mt levels, and many say even PLN 5,000/mt is possible for August production," a trader told SteelOrbis.
On the import side, the sources have remained limited, because local demand is really good all over Europe and buyers are mostly buying for July deliveries from third countries. A lot of market participants say many buyers have already bought good amounts from Russia at €640/mt CPT levels for July deliveries and have started to be careful as regards further purchases because of limited allocations.
Prices exclude 23 percent VAT.
PLN 1 = € 0.2208