Local Bulgarian long steel prices have been relatively stable in early August, following a slight increase in July. The reason behind this is the excess stocks held both by traders and producers. “But demand seems to have livened up lately,” a source mentioned.
Currently, the domestic rebar prices in Bulgaria are at BGN 815-830/mt (€417-424/mt) CPT after the increase by BGN 20-25/mt (€10-13/mt) which happened in early July. The price range is valid for local traders’ August deliveries. Moreover, Bulgarian producers are negotiating with each distributor individually for big volumes and are quoting spot prices for small orders. Sources report Promet’s offers rebar at €438/mt CPT Cluj, Romania, for September delivery.
In the import segment, most European suppliers are out of the market due to the summer holiday and are expected to be back by Monday, August 24.
In the wire rod segment, Bulgaria’s domestic prices have remained at BGN 855-900 (€437-460/mt) CPT after the increase of BGN 25-60/mt (€13-31/mt) in early July.
The price range for merchant bars has moved sideways at BGN 960-1000 (€491-511/mt) CPT after the increase of BGN 20-50/mt (€10-26/mt) in early July.
€1 = BGN 1.955