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
|
Product |
Price, CPT |
3 weeks change |
||
|
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
|
1,300-1,310 |
665-670 |
-40-50 |
-20-25 |
|
|
1,340-1,360 |
685-695 |
-60-90 |
-31-46 |
|
|
Merchant bars |
1,450-1,470 |
741-752 |
-50 |
-25-26 |
|
1,700-1,850 |
869-946 |
-50/0 |
-26 |
|
€1 = BGN 1.956