Bulgarian domestic longs prices follow diverse trends

In the past month, Bulgarian domestic longs prices have been following diverse trends depending on the market situation in each of the segments. While rebar and wire rod prices have moved up amid the positive sentiment in the scrap trade, merchant bar and beam offers have fallen sharply against the backdrop of sluggish demand.

In the import segment, ex-Turkey merchant bar prices are available at €700-710/mt FOB, while beam prices are standing at €1,100-1,150/mt FOB. Most European mills are on holiday and are not quoting any material for export. “Even though Turkish export prices are workable, it depends on whether one pays import duty and how much. Unfortunately, this is hard to predict. Even if one does, the customs clearance on the first day of the [quota] period. Trading has turned into a kind of gambling these days,” a source told SteelOrbis.

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

€1 = BGN 1.956