Bulgarian longs market positive, import offers active

The Bulgarian market for long products has been quite positive in terms of trade and the general market mood. Local suppliers have increased their offers due to the higher scrap prices seen in January, but also owing to some restocking activity. However, for February, some market sources expect a rollback in prices, taking into account a certain weakening seen in scrap prices in the most recent deals to Turkey. In the meantime, Bulgaria is targeted as a sales destination by some suppliers, in particular from Turkey and the EU.

Domestic longs offers in Bulgaria have increased by BGN 30-50/mt (€15-26/mt) over the past month, owing to better domestic business activity and the overall relatively positive market sentiment across the EU.

In the import segment, currently Turkish rebar export prices are available at $690/mt (€638/mt) FOB for mid-February shipment. In addition, a few Turkish wire rod export offers are standing at $710/mt (€656/mt) FOB, for mid-February shipment. The average freight rate from Turkey to Bulgaria is around $18-20/mt (€17-18/mt) for 5,000-6,000 mt cargoes, while ex-Italy wire rod offers are at €680/mt CPT Bulgaria, €30/mt over the past week.

Last week, Turkish merchant bar export offers were at €750-790/mt FOB (+€10-30/mt over the past month) while ex-Italy merchant bar offers were at €870-890/mt FOB, stable over the same period. Turkish beam export prices were at €930-1,050/mt CPT depending on the size and quality. Ex-Poland beam prices were at €950/mt CPT, while ex-Spain offers were at €930-1,000/mt CIF. All import offers are for delivery in the first quarter of 2023.

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

€1 = BGN 1.956