Rebar demand remained good until early this week in Poland and prices have increased by PLN 180/mt (€41/mt) over the past two weeks to PLN 2,210-2,280/mt (€499-515/mt) ex-works. However, demand for rebar has since declined dramatically after Germany's lockdown and also due to upcoming Christmas holidays. "Germany's decision has created concerns in the EU market, especially the possibility of a longer lockdown, but, on the other hand, scrap prices continue to increase day by day. Buyers only want to observe the market until the new year in this blurry outlook and we believe they will start to buy again because stock levels are not high," a trader told SteelOrbis.
On the import side, offers from Moldova and Russia have been heard in the last two weeks. Offers from Russia were at €465-70/mt CPT and offers from Moldova were at €470-475/mt CPT, both were for January shipments. According to the latest information, a producer from Moldova has offered €500/mt ex-works to some buyers, and so its export offers may be revised upwards too. Germany and Italy have not been in the market because of high price levels.
Prices exclude 23 percent VAT.
PLN 1 = €0.2258