Despite the good demand seen in the past couple of weeks, prices for rebar have declined in Poland due to the downtrend in the scrap segment. Buyers anticipate further decreases but producers are not in a hurry to revise their prices since they are mostly sold out for February production. On the other hand, stocks are sufficient in the market and rebar customers have some time to wait for a clearer market picture.
Domestic rebar prices have declined by PLN 50-80/mt (€11-18/mt) over the past two weeks to PLN 2,900-3,000/mt (€648-670/mt) ex-works. "We see demand is getting worse day by day because buyers want to wait for lower rebar prices in Poland. Everybody wants to wait a bit more and see a clearer market outlook. We do not expect sharp changes in prices especially during the Chinese holiday," a trader told SteelOrbis.
After the decline in local prices, no new import offers from Italy and Germany have been heard, because they were considered high even before the local price declines. Offers from the CIS and Moldova have been heard in the market for March deliveries at €610-620/mt CPT and €640-650/mt CPT, respectively. But demand is also low for imported material since buyers are also waiting for price decreases from overseas suppliers.
Prices exclude 23 percent VAT.
PLN 1 = €0.22