Business activity has been at quite high levels in Algeria’s import hot rolled coil (HRC) market with some sizeable orders placed in the market, while some cargoes have already been booked.
According to sources, one buyer is seeking to purchase 7,000 mt of HRC of around 1.4-10 mm thickness. While the buyer is looking to buy at around $510/mt CFR or slightly above, the closest offers have been heard from Ukraine’s Metinvest - at $515/mt CFR. Offers from the Turkish mills for the same order are at $530/mt CFR, while South Korea is quoting around $520-525/mt CFR, SteelOrbis has learned.
In addition, a local pipe-maker has recently placed an order for 27,000 mt of API grade HRC, looking to buy for April shipment. No offers within the tender have been disclosed yet.
In the commercial segment, according to sources, Ukraine’s Metinvest has recently sold 17,000 mt of HRC at $495/mt CFR
