The Bulgarian longs market has faced further pressure this week, as sluggish demand and ongoing liquidity constraints have continued to weigh on market sentiments. Market participants report that buyers have remained cautious, focusing primarily on immediate requirements rather than larger-volume purchases amid challenging financing conditions. Trading activity has therefore remained relatively limited, while weaker buying interest has resulted in lower price levels being observed across the market. At the same time, suppliers have been facing increasing pressure to secure orders, contributing to a more competitive market environment compared to previous weeks
“Demand remains limited and pricing can vary significantly depending on tonnage, destination and payment terms. For serious buyers, lower levels than the official market indications may still be achievable,” a trader told SteelOrbis.
In the local market, rebar prices have declined to around €625-635/mt CPT Bulgaria, compared to €630-640/mt CPT heard previously. Nevertheless, sources indicate that levels of €620-625/mt CPT have also been heard in the market recently, particularly from suppliers seeking to secure larger tonnages. Wire rod prices have, meanwhile, moved down to around €670-690/mt CPT, compared to €680-700/mt CPT reported a week earlier.
Despite the slow pace of domestic demand, Bulgarian buyers continue to monitor import opportunities, particularly as foreign suppliers seek to maintain their competitiveness in the market. Although no fresh import bookings have been reported so far this week, interest in imported material remains present. Turkish rebar offers are currently estimated at around $585-595/mt FOB. After accounting for freight costs of approximately €20-25/mt, these levels would translate to roughly €530-540/mt CFR Bulgaria, broadly unchanged from the levels heard a week earlier. Egyptian suppliers are, meanwhile, estimated to be offering rebar at around $595-600/mt FOB and wire rod at approximately $605-610/mt FOB. Based on prevailing freight rates of around €25-30/mt, these indications would correspond to approximately €540-550/mt CFR Bulgaria for rebar and €550-560/mt CFR Bulgaria for wire rod, compared to €535-550/mt CFR and €555-565/mt CFR, respectively, reported last week.
As for EU origin material, Italian rebar offers have remained at around €665/mt CPT Bulgaria. Similarly, Romanian origin rebar is still estimated at approximately €660-670/mt delivered Bulgaria, reflecting current domestic levels in Romania and transportation costs of roughly €30/mt. However, market participants indicate that workable levels around €20/mt lower may still be achievable in selected transactions, particularly for larger-volume purchases.
