Activity almost grinds to a halt in Bulgarian wire rod market

SteelOrbis has learnt that in the Bulgarian domestic long steel market producers' mesh and drawing quality wire rod prices have indicated a decline of BGN 10/mt ($7/mt) as compared to the previous week and are currently standing at BGN 1,030-1,040/mt ($701-707/mt) CPT on actual weight basis, excluding 20 percent VAT.
 
On the other hand, sale activities and shipments, which slowed down last week, have almost stopped this week, due to the cold weather and snow. Furthermore, the Danube Bridge which connects Romania and Bulgaria has been closed to traffic since last week. As a result, there has not been any transaction between Romania and Bulgaria during the week.
   
In addition, the uncertainty surrounding the European economy has also been affecting the Bulgarian long steel market, and so local buyers are cautious as regards concluding purchases in the market.
 
$1 = BGN 1.47