Weak activity in Bulgaria's welded pipe market ahead of holidays

Trading activity in the Bulgarian welded pipe market has been relatively scarce over the past two weeks ahead of the Christmas and New Year holidays. However, Bulgarian welded pipe producers have maintained their domestic and export prices unchanged at previous levels. Besides, from January, local and foreign buyers of Bulgarian welded pipes may become more active as traders have low stocks and they will thus need to renew their inventories. Meanwhile, market players are still faced with cash constraints, difficult access to credit and limited visibility in the market situation with respect to flat steel prices.
 
Current offers of locally produced welded pipes and hollow sections of 2-5 mm wall thickness made from S235JR grade hot rolled coil (HRC) according to EN 10219 are being given to the Bulgarian domestic market at around BGN 950-1,000/mt ($593-624/mt) ex-works, exclusive of 20 percent VAT and on theoretical weight basis.
 
Export quotations of Bulgarian ERW pipes and hollow sections of 2-5 mm wall thickness made from S235JR grade HRC as per EN 10219 are at levels of €480-500/mt ($586-610/mt) ex-works on theoretical weight basis. Export quotations of Bulgarian water and gas pipes according to EN 10255 are at €500-530/mt ($610-647/mt) ex-works.
 
$1 = BGN 1.6
€1 = $1.22