The Bulgarian longs market is entering August with activity already at a low level, as purchasing decisions are being postponed, company operations are slowing, and discussions are largely limited to immediate requirements. The holiday period is expected to reduce activity further over the coming weeks, with most participants seeing little prospect of a noticeable improvement before late August. However, the current situation is not solely linked to seasonal absences, as consumption had already been weak, and limited liquidity continued to restrict buyers' ability to place regular orders. As a result, uncertainty remains over the extent of any recovery once the holiday period ends.
Local quotations have remained unchanged this week. Rebar is still available at around €630-640/mt CPT, while wire rod prices stand at approximately €670-680/mt CPT.
Import activity has also remained limited, although reports of a possible Turkish rebar booking into the Balkan region have generated discussion among Bulgarian market participants. No local buyer has been identified, and views remain divided over whether Bulgaria was involved. Some sources believe that the absence of recent import activity makes a Bulgarian destination unlikely, while others consider that part of the reported 5,000-12,000 mt cargo may have been allocated to the country. The deal is understood to have been discussed at around $565-570/mt FOB, but neither the buyer nor the final destination has been confirmed.
Currently, Turkish rebar offers are heard at around $565-580/mt FOB, compared to $565-575/mt FOB last week. With freight to Bulgaria estimated at approximately €20-25/mt, the corresponding delivered levels stand at around €515-535/mt CFR, versus €515-525/mt CFR in the previous week. Meanwhile, Egyptian rebar offers are reported at around $570-575/mt FOB, while wire rod quotations are at approximately $580-590/mt FOB. Freight from Egypt is estimated at €25-30/mt, bringing rebar offers to around €525-535/mt CFR, compared to €525-540/mt CFR last week, and wire rod prices to €535-550/mt CFR, versus €530-550/mt CFR previously. According to market sources, Italian rebar offers have also been heard at around €620-630/mt CFR Bulgaria.
