Over the past month, Bulgarian domestic rebar prices have risen by BGN 10-30/mt (€5-15/mt) against the backdrop of the relatively higher import scrap prices in Turkey, while beam prices have fallen by BGN 20/mt (€10/mt) amid the relatively slow demand for beams compared to demand for other products.
Most local buyers are waiting for their orders to be approved by customs starting from October 1. "Demand is sluggish, but suppliers are unwilling to cut their local longs prices as they did in the past. They are all convinced that lower longs prices will not motivate demand for the moment," a source commented.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
Product |
Price, CPT |
Monthly change |
||
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
1,170-1,180 |
598-603 |
+20/+30 |
+10/+15 |
|
1,210-1,230 |
619-629 |
+10/+20 |
+5/+10 |
|
Merchant bars |
1,350-1,420 |
685-731 |
+10/-10 |
+5/-5 |
1,530-1,600 |
792-828 |
-20 |
-10 |
|
In the import segment, Turkish rebar and wire rod export offers to Bulgaria for October-early November shipment are available at $590-595/mt FOB and $595-600/mt FOB, respectively, up by $5-10/mt over the past month. The estimated freight rate from Turkey to Bulgaria is around $20-25/mt (€18-22/mt). A few North African suppliers are offering rebar at $540/mt FOB to Bulgaria with freight of around $30-35/mt, SteelOrbis has heard.
€1 = BGN 1.956
$1 = €0.90