Bulgaria’s domestic rebar and wire rod prices have fallen significantly over the last two weeks as a result of subdued demand and still high stocks in the market. “A lot of material is available in Bulgaria, which is in contrast to the demand level. Everyone is trying to sell,” one source stated.
Currently, domestic rebar prices in Bulgaria are at BGN 825-850/mt (€422-435/mt) CPT, down by around BGN 45/mt (€25/mt) compared to mid-May. This price range is valid for both Stomana Industries and Promet for rebar sales from the mills’ stocks.
Bulgaria’s domestic wire rod prices have dropped by BGN 40/mt (€20/mt) over the same period to BGN 850-860 (€435-440/mt) CPT, while the price range for merchant bars is at BGN 925-1020 (€473-522/mt) CPT, down by BGN 25/mt (€13/mt) on the lower end in the period in question. Sources report that ex-Italy beam offers are at €490/mt CIF Bulgaria for July shipment and the current prices for this material in the local market are at BGN 1,060-1,100/mt ( €542-563/mt) CPT. “Hopefully, the positive mood globally will stop our domestic market from recording an additional collapse,” a source told SteelOrbis
€1 = BGN 1.955