Over the past month, Bulgarian domestic longs prices have decreased by BGN 10-50/mt (€5-26/mt) amid the relatively negative sentiment in the import segment and sluggish domestic demand. Most buyers are exerting pressure for further discounts, while suppliers have been showing some resistance due to higher scrap price expectations. Most Turkish mills are attempting to focus on the Balkan region due to the geopolitical unrest in the Middle East and related sales issues in the area.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
Product |
Price, CPT |
Monthly change |
||
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
1,180-1,200 |
603-613 |
-40/-50 |
-20/-26 |
|
1,220-1,240 |
624-634 |
-20/-30 |
-10/-15 |
|
Merchant bars |
1,370-1,450 |
700-741 |
-10/-40 |
-5/-20 |
1,600-1,610 |
818-823 |
0/-40 |
0/-20 |
|
In the import segment, Turkish rebar and wire rod export offers for end-of-April and May shipments are available at $585-590/mt FOB and $600-610/mt FOB, relatively stable over the past month. The average freight rate from Turkey to Bulgaria stands at around $20/mt (€19/mt).
Currently, Turkish merchant bar offers are available at $660-690/mt (€620-650/mt) CFR Bulgaria, while the higher end seems somewhat difficult to achieve. The offers were at $650-660/mt (€598-607/mt) CFR Bulgaria a month ago.
In addition, according to sources, ex-Poland merchant bar offers are standing at €700/mt CPT, while beam prices are at €730-750/mt CPT. Moreover, ex-Romania beams offers are available at €730/mt CPT. In addition, ex-Spain beam offers are at €720-740/mt CIF, while Italian beam offers are at €790/mt CPT. Finally, ex-Turkey beam offers are rumored at €710-850/mt ($755-904/mt) CFR Bulgaria depending on the size, SteelOrbis has heard.
€1 = BGN 1.956
$1 = €0.94