Strengthening of euro against dollar lifts mood in Bulgarian rebar market

SteelOrbis has heard from market insiders that prices in the Bulgarian domestic merchant bar market have remained unchanged over the past two weeks and are still standing at BGN 1,160-1,170/mt ($748-755/mt) CPT for angles, BGN 1,210-1,240/mt ($781-800/mt) CPT for flat bars, depending on size, and BGN 1,170-1,180/mt ($755-761/mt) CPT for NPU. Prices are on actual weight basis and exclusive of 20 percent VAT.
 
On the other hand, Bulgarian rebar producers have decreased their domestic prices by BGN 5/mt ($3/mt) on the lower end of the price range as compared to last week to BGN 1,010-1,020/mt ($652-658/mt) on actual weight basis, for deliveries to customer, exclusive of 20 percent VAT.
 
While rebar demand has remained at normal levels in the Bulgarian domestic market, the strengthening of the euro against the US dollar has created a more positive atmosphere in the Bulgarian domestic steel market, as in other European markets.
 
$1 = BGN 1.55