Local producers' attempts to obtain higher prices were not recognised by buyers and demand for both products remained low. Most market participants decided to wait for new offers to be published in November before making a purchasing decision.
A consumer source said that Polish producers offered rebar at 2,800-2,840 Polish zloty ($661-671) per tonne in the week to 27 October, equivalent to 2,780-2,810 zloty per tonne ex-works.
Market sources reported even lower offers from some Polish producers in the range of PLN 2,725-2,737 per tonne ex-works. However, deals of PLN 2,820 per tonne delivered during the evaluation week were heard, which is equivalent to PLN 2,800 per tonne ex-works.
Demand from the construction industry, the main consumer of rebar, remains weak. Following the restocking in the first weeks of October, market participants expected to see new offers for November.
Market sources said that more import prices for rebar were in the range of €615-630 ($649-665) per tonne CPT.
The wire rod market was also quiet this week. Market participants estimated workable prices between PLN 2,800 and PLN 2,900 per tonne CPT. However, no significant deals were heard.
The weekly price assessment for steel wire rod (drawing grade) delivered in Poland was at 2,800-2,900 zloty per tonne on 27 October, unchanged from last month.
Offers for woven-grade wire rod imported from Italy were heard at EUR 615-620 per tonne CPT, while Ukrainian woven-grade wire rod was offered to Poland at EUR 620 per tonne DDP.
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