In the Bulgarian domestic long steel market producers' mesh and drawing quality wire rod prices have remained unchanged as compared to last week at BGN 1,040-1,050/mt ($697-705/mt) delivered, on actual weight basis, and exclusive of 20 percent VAT.
Since transportation services have been affected negatively by the cold weather, rebar sales and transportation of goods have slowed down in Bulgaria. In the meantime, the unstable European economy is causing buyers to restrict their purchases within the scope of their needs and so buyers are adopting a cautious approach as regards concluding new bookings.
Local wire rod mills are foreseen to reduce their prices to some extent in the coming days, as they seek to bring in cash and replenish their raw material inventories.
$1 = BGN 1,49