Trading activity in Bulgaria's longs market has weakened further in the first week of August, as slow consumption and sufficient inventories continue to keep buyers away from fresh bookings. The seasonal summer slowdown has added to the pressure, but weak underlying demand remains the main problem, with most transactions limited to small volumes for immediate requirements. Despite the increasingly quiet market, domestic suppliers have so far avoided price cuts and have maintained their quotations at stable levels.
The slowdown in sales has not yet resulted in any adjustment to domestic prices. Rebar continues to be quoted at around €630-640/mt CPT, while wire rod remains available at approximately €670-680/mt CPT. Suppliers are holding these levels despite the limited number of concluded transactions, as neither buyers nor sellers currently expect a significant market movement in the near term.
The same cautious approach is evident in the import segment. With stocks considered sufficient for the current level of consumption, Bulgarian buyers are largely staying out of the market and are not expected to consider new bookings until September. Turkish rebar offers remain at around $565-580/mt FOB for August and September shipments, unchanged from last week. Including estimated freight costs of €25-30/mt, the corresponding delivered levels are calculated at approximately €515-530/mt CFR Bulgaria, compared to €515-525/mt CFR last week. Egyptian quotations, on the other hand, have moved higher. Rebar offers have increased to around $580/mt FOB, from $570-575/mt FOB last week, while wire rod prices have risen to approximately $610-630/mt FOB, from $580-590/mt FOB. Based on estimated freight costs of €35-40/mt, Egyptian rebar indications stand at around €535-540/mt CFR Bulgaria for August and September shipments, compared to €525-535/mt CFR last week. Wire rod levels are estimated at approximately €565-585/mt CFR, up from €535-550/mt CFR previously.
