Long steel export offers from Algeria have increased over the past month, in line with the general uptrend seen in the Mediterranean region over the past couple of weeks. Local mills have raised their offers by $10-15/mt over the month to $485/mt FOB for rebar and $515/mt FOB for wire rod. Both products are available for November shipments, SteelOrbis has learned.
Algerian mills may be restricted in their rebar exports, taking into account the recently announced antidumping investigation for rebar launched by Canada which includes shipments from Algeria. However, market players mainly agree that the impact will take a while to be seen. “The lakes will be frozen due to the upcoming winter season. It [investigation] might be more destructive if it was held at the beginning of the summer,” one source mentioned. Algerian mills have refused to comment on the tonnage shipped to Canada this year. However, some market players estimate that at least two to three medium-sized cargoes were shipped.