The recent price increase ended this week in the Bulgarian long-range rental market: quotations generally remained at the level of last week, and further increases have not yet received support from the market.
Supply remains limited, but demand has improved only slightly compared to the particularly weak situation that was observed earlier. This was not enough to launch a new round of growth. Overall purchasing activity is still low, and buyers are mostly resisting the rise in price and placing orders only for current needs.
Nevertheless, individual suppliers have tried to test higher price levels, but these attempts have not been widespread. As a result, the market as a whole remained virtually unchanged compared to last week.
Prices for rebar in the domestic market are kept in the range of 630-650 euros per ton without VAT, and wire rod is offered at about 670-680 euros per ton without VAT. At the same time, in some transactions, levels of about 660 euros per ton for rebar were discussed, but market participants note that it is difficult to achieve such prices now.
Import activity remains very low: almost no new purchases are reported, as weak domestic demand continues to limit interest in foreign materials.
Turkish fittings are offered at 620-635 dollars per ton on FOB terms, which is equivalent to about 570-580 euros per ton CFR Bulgaria with a freight of about 25 dollars per ton. A week earlier, this level was approximately 550-565 euros per ton CFR.
Egyptian fittings are quoted in the range of 610-615 dollars per ton FOB, or about 560-570 euros per ton CFR with a freight of about 30 dollars per ton, whereas a week earlier it was about 540-550 euros per ton CFR.
Egyptian wire rod offers are currently estimated at $625-630 per tonne FOB, which corresponds to about 575-580 euros per tonne CFR in Bulgaria. A week earlier, the quotes were in the range of 560-575 euros per ton CFR.
