The Bulgarian longs market has remained quiet this week, with prices showing no change while trading activity continues to be limited.
Demand is still very low, stocks are sufficient and liquidity problems remain a key obstacle to fresh purchases. In addition to these already weak market conditions, the new EU quota regime has made buyers and sellers even more cautious, as market participants are now waiting to assess how import costs may be affected. Sources say the market needs more time to understand the full impact of the new quota system, especially amid concerns that possible additional duties and taxes may eventually push final costs higher for end-users.
“There has been no change in our market recently. Prices are unchanged and demand remains very low. The market needs some time to assess the outcome of the new quota regime. We are concerned that the new quota may result in significant additional duties and taxes, which will eventually be passed on to the end buyer and lead to higher prices. Europe is becoming more and more uncompetitive,” a Bulgarian market source told SteelOrbis.
In the domestic market, Bulgarian longs quotations have remained stable week on week. Rebar prices are still heard at around €625-635/mt CPT Bulgaria, while wire rod prices are unchanged at approximately €670-690/mt CPT.
In the import segment, no fresh bookings have been reported this week. Turkish rebar offers are currently heard at around $570-580/mt FOB, compared to $580-590/mt FOB last week, corresponding to approximately €525-530/mt CFR Bulgaria. Egyptian rebar offers are estimated at around $580-600/mt FOB, unchanged week on week, with CFR levels still calculated at around €530-555/mt CFR Bulgaria. Egyptian wire rod offers are heard at $600-620/mt FOB, compared to $600-610/mt FOB last week, translating to roughly €550-570/mt CFR Bulgaria.
As for EU-origin material, no fresh Italian rebar offer has been heard this week, while the latest known indication was at around €655/mt CPT Bulgaria. No firm Romanian offer has been reported either, though previous delivered indications were at around €650-660/mt. Sources note that the firmer mood recently seen in Romania may support higher expectations, but for now these levels remain indicative in the absence of confirmed offers or deals.
