Although the demand remains sluggish, major rebar producers in Europe have lifted the price by €10/ton with the increasing scrap price.

Recently, many mills purchased the scrap and pushed the scrap price up to US$280/ton from the previous US$250/ton. Thus, the European mills decided to adjust the rebar price from €400-410/ton to €410-420/ton.

The spokesman of one Spanish mill said if the scrap price continued to go up, the mill would probably has no choice but to cut the production to avoid a loss.

Currently, the exporters in South-Europe have turned their eye to North-African market, which still enjoys a strong demand.