Over the past month, Bulgarian domestic longs prices have mostly shown little change, with only slight fluctuations seen due to exchange rate fluctuations. Stock levels in the long steel retail market in Bulgaria are still moderate, while daily trading activity is continuing for average volumes.
The general sentiment on the demand side is negative due to adverse weather conditions. Moreover, a few local traders are applying aggressive pricing to destock material and are giving additional discounts for serious buyers. Most local buyers are monitoring the upward import scrap price trend in Turkey. "There have rumors of a possible price hike, though it has not been confirmed yet," a source told SteelOrbis.
In the import segment, Turkish rebar has been offered to Bulgaria officially at $565-570/mt CFR for October shipment, up $20/mt over the past month due to the costlier import scrap in Turkey. Ex-Turkey fresh equal angle export offers are standing at $635-650/mt CFR, also indicating a $10/mt increase over the same period. The freight rate from Turkey to Bulgaria is estimated at around $15-20/mt.
On the European side, ex-Poland merchant bar offers are still rumored at €670-690/mt CPT to Bulgaria, stable over the same period. Moreover, ex-Italy and ex-Poland beam offers are heard at around €760-860€/mt CPT and €750-840/mt CPT, down by €20-30/mt over the past month due to sluggish demand.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
| Product | Price, CPT | Monthly change | ||
| BGN/mt | €/mt | BGN/mt | €/mt | |
| Rebar | 1,140-1,160 | 583-593 | -5/+5 | -3/+3 |
| Wire rod | 1,200-1,220 | 613-624 | -5/-10 | -3/-5 |
| Merchant bars | 1,275-1,335 | 652-683 | -5/+5 | -3/+3 |
| Beams | 1,480-1,600 | 757-818 | -20/+20 | -10/+10 |
€1 = BGN 1.956
$1 = €0.86
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