The Bulgarian longs market has remained almost motionless this week, not because prices are being firmly defended, but because there is very little demand to test them. Buying activity is still weak, with full stocks, limited cash availability and slower construction-related demand leaving buyers with little reason to return to the market in a meaningful way.
Payment delays and liquidity problems continue to weigh on purchasing decisions, while the expected clarification of quota-related issues and the new import regulation in the EU have added another reason for market players to wait. Still, sources stress that the main pressure is coming from the lack of real consumption rather than from regulatory uncertainty.
“Demand is depressed and the market is moving very slowly. Buyers are already covered, liquidity is still a problem and the holiday season is starting to weigh on activity. Regardless of the new import regulation, demand will probably decline further, and prices may also come under pressure,” a trader told SteelOrbis.
Against this background, no change has been observed in domestic longs quotations in Bulgaria this week. Rebar prices have continued to be heard at around €625-635/mt CPT Bulgaria, while wire rod prices have remained at approximately €670-690/mt CPT.
In the import segment, no fresh bookings or new firm offers have been heard this week, while most import indications have remained broadly stable amid limited buying interest. Among non-EU suppliers, Turkish rebar offers are currently heard at $580-590/mt FOB, compared to $580-600/mt FOB last week. Taking into account freight costs of around €20-25/mt, these levels correspond to approximately €520-545/mt CFR Bulgaria, broadly stable week on week.
Egyptian rebar offers are currently estimated at $580-600/mt FOB, while wire rod offers are heard at $600-610/mt FOB. Based on prevailing freight rates of around €25-30/mt, these indications translate to roughly €530-555/mt CFR Bulgaria for rebar and €550-565/mt CFR Bulgaria for wire rod.
As for EU origin material, Italian rebar offers are still heard at around €655/mt CPT Bulgaria, unchanged from last week. Estimated Romanian rebar prices, meanwhile, have moved down by around €10/mt week on week to €650-660/mt delivered to Bulgaria.
