Southern European mills successfully raised the export rebar price to Algeria. The current mainstream price is 315-320 euros / ton (FOB), last week the price is 300-310 euros / ton (CFR). After the North African buyers wait for some time, they accepted the offer from southern European mills. Market participants said the recent rebound in scrap prices in Europe, while southern European mills will cut production in December, so the steel mills insist to increase the price, and the buyers of Northern Africa also no longer insist on lower prices. However, for the market outlook, market participants believe that unsustainable rise, scrap prices rebounded limited space, while rebar prices in other regions remained downtrend. If southern European rebar export prices continue to rise, the North African buyers will turn to purchase other local resources.

                                                       XINSTEEL NEWS