POLAND REBAR: Producers withdraw offers, secondary market leaps

Poland rebar producers were largely holding back on offering and taking a wait-and-see stance amid an unprecedented price surge, while secondary market prices continued rising on support from strong demand, limited supply and increased scrap costs, sources told Fastmarkets on Friday May 21.

Local mills had reportedly withdrawn their rebar offers this week and are expected to come back next week, market sources said.
"CMC Zawiercie and ArcelorMittal stopped any offers this week. Maybe they'll come out with a new price after the weekend," a trading source said.
Prices from ArcelorMittal were heard at 3,600 ($974) zloty per tonne ex-works, however, the producer did not confirm this, one source said.

Market sources think the...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps