Speaking to SteelOrbis, Ricardo Hugas, Corporate Commercial Director of Celsa Group, announced that Celsa Group is to increase its merchant bar and rebar prices.
Mr. Hugas has told SteelOrbis: "After a period of low international prices the market has recovered by €50/mt for rebars and the same for billets.
"Even further improvement is expected during next week, due to strong scrap prices as well as international demand.
"This situation is also affecting the European market, where during last week rebars saw a recovery of €30/mt, with a further increase of another €30/mt anticipated. We could say that the average European price will be €400/mt delivered to customer.
"A similar situation is also seen for merchant bars and sections, which have improved by €30/mt probably with a further recovery likely."