Nternational Steel Market Daily: European And American Rebar Prices Stabilize, Market Sentiment Is Mainly Wait-and-see
In the past week, European rebar and wire rod prices have remained stable. The price quoted by Italian steel mills is US$670-690/ton CPT, the price quoted by Ukrainian steel mills is US$665-675/ton CPT, and the domestic rebar price in Poland is US$655-670/ton CPT. However, the current market does not accept high prices, and buyers continue to push prices down to around US$670/ton CPT.
Specifically, the apparent consumption of Poland's domestic construction industry is still weak. Although demand from the concrete precast industry has rebounded, it is not enough to support prices, and the EU has no intention to provide Poland with any infrastructure project funds. The industry There are no signs of recovery overall, and market pessimism is widespread.
Recently, Polish wire rod quotations have been between US$695-745/ton CPT, and purchasing volume has picked up slightly since late October. It is understood that the main focus is on replenishment, but the overall transaction is still light. The country's steel mills may have a price increase trend in November and hope to determine the tonnage in advance. However, despite sluggish demand, steel mills still maintain stable quotations.
It is estimated that the domestic rebar price in Poland is 655-665 US dollars/ton CPT, which is slightly narrower than the previous week's quotation of 650-670 US dollars/ton CPT; the wire rod price is 670-695 US dollars/ton CPT.
In addition, in North America, Mexican rebar prices remained stable for the first time after rising for four consecutive weeks. Although steel mills announced that higher offers will take effect at another date, market participants are still waiting and watching. The rise in rebar is the result of a combination of restocking activity and speculative buying. Most domestic steel traders define this round of price increases as a speculative demand scenario based on the resumption of existing construction projects. On this basis, the willingness to buy is weak, and the rebar quotations from Mexican steel mills are firm at around US$840-895/ton.
