Bulgarian sellers have managed to raise the quotes of their long positions over the past week, but this growth has occurred in a market where sales are still slow and cash flow remains limited. The upward trend in prices has prompted some medium and large buyers to purchase limited shipments, mainly to avoid overpaying later if price increases continue. However, this purchase is not seen as a sign of a real recovery in demand. Sources report that the market remains unstable as buyers wonder how much the new price level can be accepted, while local consumption remains low. At the same time, competitive offers from both EU and other suppliers do not allow the domestic market to gain more trust.
In the domestic market, prices for rebar in Bulgaria increased to about 640-650 euros per ton without VAT, compared with 625-635 euros per ton without VAT last week. Wire rod prices also increased and amounted to about 680-700 euros per ton without VAT, compared with 670-690 euros per ton without VAT in the previous week. According to sources, medium and large buyers were more active this week than small ones, but purchases were still mostly focused on needs. Liquidity issues continue to limit trading, while ample inventory also deters many buyers from taking new orders.
There were no reports of new orders in the import segment this week, as local demand remains low and buyers are still largely secured. Market participants say that aggressive suppliers may put pressure on Bulgaria in the coming months if they continue to offer goods at a low level, especially at a time when sales in the domestic market remain weak. Turkish rebar export offers decreased to about 565-575 dollars per tonne FOB compared to 570-580 dollars per tonne FOB last week, resulting in the corresponding CFR level in Bulgaria decreased to about 515-525 euros per tonne. In addition, according to sources, the port of Burgas has received an offer to supply Turkish rebar in rolls at a price of about $625 per ton CFR for September shipment. As for Egyptian materials, the current offers for fittings are about 580-590 dollars per ton on FOB terms, compared to 580-600 dollars/last week the price per ton in Bulgaria was estimated at about 535-550 euros per ton. Egypt offers wire rod at a price of about 590-600 dollars per ton on FOB terms, compared with 600-620 dollars per ton last week, which corresponds to about 545-560 euros per ton in Bulgaria.
As for the materials
