This week flat steel demand in the Bulgarian domestic market has remained weak, while prices have increased slightly in the past week.
Accordingly hot rolled coil (HRC) prices in the Bulgarian domestic market are standing at BGN 1,080/mt ($722/mt), while cold rolled coil (CRC) prices are at BGN 1,320/mt ($882/mt) and 0.5 mm hot dip galvanized (HDG) prices are at BGN 1,470/mt ($983/mt), all for deliveries to customer and excluding 20 percent VAT. Although transaction activity had improved before the price increases, buyers are now booking material within the scope of their needs.
On the other hand, the flat steel market in Greece is extremely quiet and the transaction volume is not expected to improve in the short run. Market sources told SteelOrbis that the most competitive import offers in the Greek market have been received from Ukrainian and European steel producers. Accordingly, HRC offers from Europe to Greece are standing at €470-480/mt ($616-629/mt) CIF, while offers from Ukraine are at $580-590/mt CIF.
Due to the approach of the Christmas and New Year holidays, no improvement in demand or transaction activity is expected across Europe, and the sluggishness in the market is predicted to last until mid-January.
$1 = BGN 1.496
€1 = $1.31