Bulgarian domestic prices are on an upward trend amid the stronger scrap prices seen over the past month. Rebar stock levels are low to medium, while demand is sluggish after the rapid price hikes in the local market. Moreover, most Turkish mills are taking their time to quote prices amid the unclear financial situation in their country and the need to monitor the raw material price trend for longer lead times.
Long prices in Bulgaria have moved up sharply over the past month. According to sources, most Bulgarians mills were offering wire rod at BGN 1520- 1550/mt (€777-792/mt) ex-works for stock material in the middle of the past week. Beams prices in Bulgaria are already too low compared to the mills' new price levels, but it seems that some local traders are applying aggressive pricing for their old stocks,” a source told SteelOrbis.
In the import segment, by mid-October ex-Turkey rebar offers were standing at $740/mt FOB for end of December-January shipment, while merchant bar offers were at €670-730/mt CIF for December shipment. In addition, a few European mills were offering €940/mt CPT for November rolling.
Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT
|
Product |
Price, CPT |
Monthly change |
||
|
BGN/mt |
€/mt |
BGN/mt |
€/mt |
|
|
1,460-1,480 |
746-757 |
+160-170 |
+81-87 |
|
|
1,540-1,550 |
787-792 |
+190-200 |
+97-102 |
|
|
Merchant bars |
1,550-1,600 |
792-818 |
+100-130 |
+51-66 |
|
1,850-1,950 |
946-997 |
+100-150 |
+51-77 |
|
€1 = BGN 1.956