Bulgarian domestic longs prices trend upwards

Over the past month, Bulgarian domestic longs prices have mostly risen by BGN 10/mt with minor changes on euro basis due to currency fluctuation, and so the suppliers have preferred to adjust the price levels according to the exchange rates. In addition, import scrap prices in Turkey have been rising, giving some boost to import longs prices from Turkey to Bulgaria, while domestic industrial costs in Bulgaria itself are quite high as well.

Sources report that some Bulgarian suppliers are offering relatively lower levels due to their relatively lower import billet prices and are applying aggressive pricing policies. Although mills are seeking to increase their longs prices, most buyers are still delaying new purchases and are monitoring the import scrap price trend in Turkey, the ongoing currency fluctuations and the state of demand.

In the import segment, Turkish rebar and wire rod export offers to Bulgaria for late March-April shipments are respectively available at $600-605/mt, up by $20/mt, and $605-610/mt, also up by $15/mt CFR Bulgaria, with the freight rate from Turkey to Bulgaria estimated at around $15-20/mt.

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

€1 = BGN 1.956

$1 = €0.92