Bulgarian long steel buyers have been mostly concentrating on sourcing rebar locally or within the EU, since Turkey, one of the key sellers to the destination, has already filled its quota for exports to the EU. In the meantime, demand is limited as the winter season is approaching.
Currently, the domestic rebar price in Bulgaria is at €450-460/mt CPT, being relatively stable over the past few weeks. Some Bulgarian mills are offering this range for December production, while one of the local mills is asking this level for ready stocks. Import offers from Italy, currently one of the key non-domestic suppliers, have been reported at €465-475/mt CPT, up €25-30/mt over the past month, SteelOrbis has learned. Given the difference with local prices, Bulgarian customers do not consider such levels to be workable. Moreover, they expect a further increase in Italian offers in the coming weeks. Some mills from Italy have stopped offering for now for this reason.
Rebar stocks in Bulgaria are said to at medium levels, while buyers are not in a rush to conclude new purchases as they do not want to create excessive stocks ahead of the winter period. Local mills have been trying to increase their prices, but, according to market sources, in December this is hardly achievable. Some demand for Bulgaria might come from the neighboring countries as some inquiries have been reported.
Aside from rebar, Bulgaria’s domestic wire rod prices are set within €465-475/mt CPT, while the price range for merchant bar is reported as €495-505/mt CPT.