The 14-year-old secured a personal best international score of 48.90 points as, despite a couple of stumbles on his jumps, his spins were impeccable enough to impress the judges.
Friday sees the competitors show off their free programmes with the two scores then totalled together and, with Newberry favouring that routine, the chance of a second medal appears to be strong.
Short track speed skater Kathryn Thomson won Britain's first in the form of 500m silver and while, Newberry could not hide his delight, he was quick to admit there was plenty of room left for improvement.
"I really did not expect to get that result with the programme that I did so I'm really pleased," he said. "I need to try and land some jumps in the free on Friday.
"But I prefer that programme and it gives me a bit more room for error so I'm looking forward to it.
"I am going to try to ignore the fact that I am in bronze-medal position, I just want to try and focus on getting my performance right and hopefully I can hold my position."
On the girls' side of the competition it was less good news for Britain's Amani Fancy as a couple of tumbles during her short routine limited her to a score of 31.02.
But, while her technical score let her down, her presentation score was a season's best and, with the free programme still to come, the 15-year-old is hoping there is more to come.
"I honestly didn't do as well had hoped to do, but I can't be too upset and I have my fingers crossed for a better performance in the free," she said.
"The free programme will be very exciting, I just hope I can make it through without any errors.
"To say I am happy to be here in Brasov is an understatement, it is the experience of a lifetime. I am so excited to be here and my team-mates are fantastic."
Over in the alpine skiing there was also good news for Team GB as Darcie Mead rounded off a strong showing over the week with a 31st-place finish in the slalom.
Mead was in action twice during the week in Brasov, first on Monday in the giant slalom where she secured an impressive 28th-place finish.
And the 16-year-old followed that up on Wednesday with a massive improvement in the slalom, her least-preferred discipline, from her bib number of 56.
"This week has definitely given me more confidence in myself and in my ability, I was quite nervous coming into the competition," she said.
"The slalom went OK, it went better than I expected it to. I started quite far back in 56th, my aim was to jump up ten bibs, and I finished 31st so that is a big improvement.
"Slalom isn't my strongest discipline to start with anyway but to race against girls I have raced against before and see how quick I am in comparison has been really encouraging.
"This has motivated me to do well and to keep training, keep working hard this season and do more gym work this summer."