Over the past month, Bulgarian domestic longs prices have mostly fallen by BGN 20/mt (€10/mt). The main reasons are the negative sentiment in the import scrap segment in Turkey and sluggish domestic demand. Most buyers are exerting pressure for further discounts given the negative sentiment in the market and the weakness of the longs segment across Europe. However, the size of discounts may be limited due to weaker competition, particularly with Asian longs suppliers to the EU.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
Product |
Price, CPT |
Monthly change |
||
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
1,230-1,240 |
629-634 |
-20 |
-10 |
|
1,250-1,260 |
639-644 |
-20 |
-10 |
|
Merchant bars |
1,410-1,460 |
721-746 |
-20 |
-10 |
1,600-1,650 |
818-844 |
0/-20 |
0/-10 |
|
In the import segment, ex-Turkey rebar and wire rod offers for late March and April shipments are available at $585-590/mt FOB and $605-610/mt FOB, falling by $30/mt and $25/mt over the month, respectively. The average freight rate from Turkey to Bulgaria is around $20/mt (€18/mt).
A few Turkish merchant bar re-rollers were offering their material at $675-705/mt (€623-650/mt) CFR Bulgaria a month ago. Currently, Turkish merchant bar offers are available at $650-660/mt (€598-607/mt) CFR Bulgaria, SteelOrbis has learned.
In addition, sources report ex-Poland merchant bar offers were at around €720/mt CPT and small-size beams were at €760/mt CPT, while bigger beam sizes were at around €800/mt CPT by late February. In addition, ex-Spain beam prices varied at €760-860/mt CIF Bulgaria, depending on the size and tonnage.
€1 = BGN 1.956
$1 = €0.92