Longs prices in Bulgaria mostly soften

Domestic prices in Bulgaria for most long products have dipped further as a result of insufficient demand, the holiday season and the uncertain situation in the scrap market. Local long steel offers mainly decreased by BGN 50/mt (€26/mt), while only in the merchant bar segment did prices strengthen, by BGN 10/mt (€5/mt) on the lower end, due to the slightly better demand situation. “Demand is very low, and we are expecting it to revive next week or in two weeks’ time,” one source commented. One local producer is currently offering wire rod at BGN 1,550/mt (€793/mt) CPT for fresh production.

In the import segment, Turkish rebar export prices are available at around $680/mt FOB, while ex-Turkey wire rod export prices are available at $780-800/mt FOB, both for late October shipments. No fresh merchant bar or steel section offers have been heard for now as some Turkish merchant bar producers are not quoting for the moment, in order to gain a better understanding of the situation in the import scrap segment.

Local prices for long products in Bulgaria, BGN/mt (€/mt) CPT

€1 = BGN 1.956