Local rebar and wire rod prices have dropped significantly in Bulgaria since early June, while more import offers have been heard in the market. Bulgarian buyers seem to have taken some time to evaluate the offers, SteelOrbis understands.
Currently, domestic rebar prices in Bulgaria are at BGN 790-810/mt (€404-414/mt) CPT, down by BGN 35-40/mt (€18-21/mt). This price range is valid for both Stomana Industries and Promet for rebar sales from the mills’ stocks but also for July production. According to sources, Promet keeps large rebar stocks and is in a position to make prompt deliveries and maybe even lower offers. Sources report Promet offers rebars at €395/mt CPT Bucharest.
In the import segment, Turkey is offering rebar at $425-430/mt FOB for July-August shipment, estimated at €390-395/mt CFR Bulgaria, while ex-CIS prices are at $415-420/mt FOB, corresponding to €385-390/mt CFR, SteelOrbis has learned. Italian sellers are in the market with around €415-428/mt CFR Bulgaria for end July-early August shipment. “Import rebar offers are hardly workable. The cost with delivery to customers is a little higher than the current sales price in Bulgaria,” a source said.
In the wire rod segment, Bulgaria’s domestic wire rod prices have decreased by BGN 20/mt (€11/mt) since early June to BGN 830-840 (€424-429/mt) CPT with slightly higher levels also being available. Ex-CIS wire rod offers are standing at $430-440/mt FOB for July shipment or around €395-405/mt CFR Bulgaria. Sources report wire rod stock levels in Bulgaria are medium for now.
In the merchant bar segment, the price range is at BGN 910-980 (€465-506/mt) CPT, down by BGN 15-40/mt (€8-16/mt). Sources report special discounts are available for serious buyers. Moreover, ex-Turkey equal angle offers are currently available at €405-410/mt FOB and Turkish flat bar offers are standing at €415-420/mt FOB for July shipment, equal to €415-420/mt CFR Bulgaria and €425-430/mt CFR Bulgaria respectively, SteelOrbis understands.
€1 = BGN 1.955
€1= USD 1.119