Bulgarian rebar and merchant bar prices on downward trends

This week's rebar offers of traders in the Bulgarian domestic market are at BGN 1,015-1,020/mt ($646-650/mt) CPT on actual weight basis, exclusive of 20 percent VAT. Meanwhile, Bulgarian mills have not reduced their rebar offers officially yet, but are anticipated to cut their offers in the coming days. However, for now official rebar prices of mills are still standing at BGN 1,030-1,040/mt ($656-662/mt) CPT on actual weight basis, exclusive of 20 percent VAT.
 
On the other hand, prices in the Bulgarian domestic merchant bar market have decreased by BGN 10/mt ($6/mt) as compared to last week, now standing at BGN 1,160-1,170/mt ($739-745/mt) CPT for angles, BGN 1,210-1,240/mt ($771-790/mt) CPT for flat bars, depending on size, and BGN 1,170-1,180/mt ($745-752/mt) CPT for NPU. Prices are on actual weight basis and exclusive of 20 percent VAT.
 
While demand had remained slack in previous weeks due to rainy weather, demand has reached normal levels as weather conditions have improved. Purchases are being concluded in line with needs in the Bulgarian domestic market.
 
$1 = BGN 1.57