Bulgarian rebar prices expected to soften further

SteelOrbis has learned from market sources that Bulgarian rebar producers have decreased their domestic prices by about BGN 15-20/mt ($10-13/mt) as compared to last week to BGN 1,015-1,020/mt ($651-654/mt) on actual weight basis, for deliveries to customer, exclusive of 20 percent VAT. However, these producers are expected to further cut their domestic rebar prices in the coming days.
 
Although rebar demand lacks strength in the Bulgarian domestic market, demand is more or less at normal seasonal levels as buyers continue to conclude bookings in line with their needs.
 
$1 = BGN 1.5598