Local longs demand moderate in Bulgaria

The domesticlongsdemand inBulgariahas been moderate, while the prices have rebounded this week, following a drop seen earlier in July. However, the price increase is attributed rather to stronger scrap prices locally and internationally, than to improved business activity. Still, if compared to mid-June, the locallongsprices inBulgariaindicated a sharp fall.

In particular,Bulgaria’srebarprices dropped last week to as low as BGN 1,500/mt (€767/mt) CPT, but then rebounded to BGN 1,550-1,570/mt or €792-803/mt, both on the CPT basis. Still, over the monthrebaroffers fell by €26-41/mt (BGN 50-80/mt).

In the import segment, the number of offers has been scarce mainly due to the low business activity and the quota situation.

Local prices for long products inBulgaria, BGN/mt (€/mt) CPT

€1 = BGN 1.956