In the Bulgarian domestic flat steel market, demand is still slack while prices have remained stable as compared to the previous week. Accordingly, hot rolled coil (HRC) prices in Bulgaria still stand at BGN 1,050-1,060/mt ($724-731/mt), while cold rolled coil (CRC) prices are at BGN 1,300-1,310/mt ($897-904/mt) and 0.5 mm hot dip galvanized (HDG) coil prices are at BGN 1,440-1,450/mt ($993-1,000/mt), all ex-warehouse. It is reported that Bulgarian buyers are still maintaining a wait-and-see stance.
In the meantime, in the Greek domestic flat steel market buyers are still delaying their bookings, waiting for further price cuts. Turkish steel producers' HRC export offers at $620-640/mt FOB reach about €485-480/mt ($655-675/mt) when freight rate and other costs are added. Thus, amid the already weak demand, Turkish offers are found to be on the high side compared to European offers at €470-480/mt ($635-648/mt) CIF.