Belarus-based Byelorussian Steel Works (BMZ) has stated that it expects its wire rod and rebar exports to Senegal to increase in 2019, following its signing of supply agreements with companies in Senegal.
According to its statement, BMZ plans to strengthen its export diversification in the face of current “trade wars” in the global steel market. One of the directions of this work is the promotion of its steel products in the African market. At present, the share of African countries is 8.4 percent in the total volume of BMZ’s exports. It supplies steel products to 15 countries on the African continent, with the leading destinations being Egypt, Algeria, Senegal, Sudan and Mauritania. During the first ten months of 2018, BMZ exported steel products to Africa worth about $89.5 million, up 157 percent year on year.
BMZ’s total steel product exports in the January-October period of this year amounted to 1.66 million mt, worth over $1 billion and already exceeding the total for 2017 by $50 million, while indicating increases of 107.6 percent in volume and 131.5 percent in value, both year on year.