CMC Poland operates a state-of-the-art steel mill in the city of Zawierce and produces products such as ribbed wire rod, round, flat, square, shipbuilding flat bars, ribbed and flat wire in coils, serving the construction, agriculture, energy, machinery and consumer goods markets.
According to the company, steel shipments were down 37% year-on-year to 275,000 short tonnes, sales of commercial bar and other products were down 17% year-on-year to 211,000 short tonnes and rebar sales were down 65% year-on-year to 64,000 short tonnes. According to CMC president Peter Matt, the steel market in Europe is deteriorating over time, but the company expects a positive development in steel demand in Poland with increasing residential construction activity. According to the statements and company data, CMC Poland's annual sales price decreased by an average of 11% to $673 per short tonne, while scrap costs increased by 1% to $394 per short tonne, resulting in a margin of $279 per short tonne, down 24% year-on-year.
According to SteelRadar data, the European steel market has started to recover since January 2024, but long product consumption is at its lowest level in recent years and inventories are gradually falling. Construction steel prices, which fell sharply in March, have recovered in many countries, but weakening construction activity and raw material prices are also having a negative impact on the steel market.
Comments
No comment yet.