Over the past month, Bulgarian domestic longs prices have mostly fallen by BGN 25-70/mt (€13-36/mt), amid slow demand and ongoing economic and political uncertainties. Although much attention has been on Turkey and on expectations for the post-election period, steel product offers from Turkey are still not competitive in the Bulgarian market.
In the import segment, a few Turkish mills are offering rebar at $625/mt (€575/mt) FOB, falling by $25/mt (€20/mt) over the past month, while wire rod is available at $635-640/mt (€590-595/mt) FOB, versus $660/mt (€670/mt) FOB a month ago. In addition, ex-Turkey merchant bar offers are at $675-685/mt (€625-635/mt) FOB, falling by $15/mt (€10/mt) over the same period. The estimated freight rate from Turkey to Bulgaria is around €60/mt ($65/mt) by truck and $25-30/mt (€23-28/mt) for sea freight. In addition, the estimated freight rate on average for 5,000 mt from Izmit is approximately $16-17/mt for a 2,000 mt loading and discharge rate, SteelOrbis has heard.
According to sources, ex-Italy rebar offers were standing at €550/mt ex-works, equal to €630/mt CPT Bulgaria and ex-Spain beam offers were available last week at €820-920/mt CIF depending on the size.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
|
Product |
Price, CPT |
Monthly change |
||
|
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
|
1,210-1,240 |
619-634 |
-40/-60 |
-20/-31 |
|
|
1,230-1,250 |
629-639 |
-60/-70 |
-31/-36 |
|
|
Merchant bars |
1,500-1,555 |
767-795 |
-25/-50 |
-13/-26 |
|
1,800-1,900 |
920-971 |
0 |
0 |
|
€1 = BGN 1.956