Bulgarian domestic long steel prices under pressure from weak demand

SteelOrtbis has learned that long steel prices the Bulgarian domestic market has witnessed some price softening as compared to the period before the New Year holiday. Accordingly, rebar prices in Bulgaria have come down by BGN 30/mt ($21/mt), while wire rod prices have softened by BGN 20/mt ($14/mt) and equal angle prices have fallen by BGN 10/mt ($7/mt). Flat bar prices in the Bulgarian domestic market, however, have remained unchanged.

Market sources state that buyers mostly conduct their purchases in smaller volumes within the scope of filling inventory holes and the sluggishness in demand is shown as the reason behind the price softening.

Prices of long steel products in the local Bulgarian market are at the following levels:

$1= BGN 1.448

Prices are for deliveries to customer and exclude VAT