Bulgaria longs prices decrease, but demand relatively better

Bulgarian local longs prices are in a downward trend amid the negative sentiment in the raw material segment. In addition, most buyers are concerned about the exceeded EU quota specifically for the ex-Turkey rebar these days.

Local Bulgarian longs prices have fallen by BGN 40-90/mt (€20-46/mt) over the past three weeks. The Bulgarian wire rod prices have dipped relatively lower compared to other longs products. “Demand is still slow, but still a bit better than 2-3 weeks ago. In general, wire rod prices have been drastically overpriced since July last year. The price difference between wire rod and debars used to be maximum around $20/mt. In view of this, still there is a huge space for correction between rebar and wire rod. It's a matter of demand,” a source told SteelOrbis.

In the import segment, ex-Turkey rebar offers are available at $675/mt FOB and wire rod offers are standing at $775/mt FOB, both for November shipments. In addition, ex-Italy beam offers are around €920/mt FOB, which is considered a bit pricy for the Bulgarian buyers.

Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT

€1 = BGN 1.956