Due to higher scrap prices and lower local stocks, Polish domestic rebar prices have continued to increase after the holiday season. The market is still not fully open yet, but most traders agree that the new price levels will be accepted soon and that new increases are on the way. Demand for rebar is strong in the country because most buyers do not have enough material and they are seeking to replenish their stocks before further price increases.
Currently, local rebar prices are at PLN 2,680-2,750/mt (€593-608/mt) ex-works, up by PLN 470/mt (€104/mt) over the past month. "Buyers are in the market now, but some producers are still not offering after the holiday season. They want to wait a bit more to see the market situation in order to decide their new price levels. Scrap prices have increased a lot and rebar stocks are insufficient in Poland. This situation contributes to high price levels and producers want to issue the highest levels which are acceptable," a trader told SteelOrbis. New rebar prices are also considered to be an indicator for the producers' raw material purchases and they will show how flexible they can be in their purchases of raw materials.
Import offers have not been heard in the market yet, mainly because of Covid-19-related lockdowns and due to the fact that some producers want to wait and gain a clearer picture of the Polish rebar market before they offer.