Rebar demand has improved in Poland, partly as there is limited availability of material. As a result, local prices have increased by PLN 100-110/mt (€22-25/mt) to PLN 2,030-2,100/mt (€455-471/mt) ex-works over the past two weeks. Stocks are reported to be low and the restocking period has started. In addition, scrap prices and import offers for rebar are strong and buyers give preference to locally produced steel. On the other hand, most domestic producers have already sold out their December production. "The restocking period started at the end of last week and demand is getting stronger every day. Scrap prices have also remained strong and we think we can see higher levels for local rebar prices before this week ends," a trader told SteelOrbis.
On the import side, prices have also increased due to higher scrap price levels and they remain unattractive. Italian traders are in the market with €460-470/mt CPT, while offers from Germany are at €470-480/mt CPT for December-January deliveries, with both increasing by €20/mt during the last 15 days.
Prices exclude 23 percent VAT.
PLN 1 = €0.2241