Over the past month, Bulgarian domestic longs prices have decreased by BGN 5-20/mt (€3-10/mt) depending on the product due to the general lack of demand in Europe amid the approaching summer holiday period.
However, some of the suppliers are attempting either to increase or at least stabilize their longs offers, taking into account already reduced stocks, SteelOrbis has heard.
In the import segment, most buyers are in the market, but there are hardly any fresh offers as most Southern European mills are preparing for the summer holiday period. Last week, a few Turkish mills were offering rebar at $600-610/mt FOB (€546-555/mt) FOB versus $625/mt (€575/mt) FOB, over the past month, while wire rod was available at $615-620/mt (€560-565/mt) FOB versus $635-640/mt (€590-595/mt) FOB a month ago.
In addition, ex-Turkey merchant bar offers are at $650-670/mt (€592-610/mt) FOB versus $675-685/mt (€625-635/mt) FOB.
The estimated freight rate from Turkey to Bulgaria is around €60/mt ($65/mt) by truck and $25-30/mt (€23-28/mt) for sea freight. This week, Turkish mills are also expected to revise their export offers as they are monitoring the import scrap prices closely.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
|
Product |
Price, CPT |
Monthly change |
||
|
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
|
1,190-1,220 |
608-624 |
-20 |
-10 |
|
|
1,220-1,240 |
624-634 |
-10 |
-5 |
|
|
Merchant bars |
1,500-1,550 |
767-792 |
-5 |
-3 |
|
1,800-1,890 |
920-966 |
-10 |
-5 |
|
€1 = BGN 1.956
$1= € 0.91