The domestic finished steel market in Algeria has started the working week with an upward revision of rebar and wire rod prices which, according to sources, has been based on expected restocking activity, even though there are still certain pending issues with governmental budget support of construction projects. According to sources, some maintenance works at one of the producers' rolling lines are supporting the upward expectations, rather than increases in demand. In the meantime, local HRC prices in Algeria have stabilized for now, with some discounts granted amid project demand, while export sales have been rather quiet.
Over the past week, local Algerian rebar and wire rod prices have increased by DZD 2,000/mt ($13/mt) to DZD 119,000/mt ($753/mt) ex-works and DZD 120,000/mt ($760/mt) ex-works, SteelOrbis has learned. “Domestic demand is not bad, especially for rebar in Algeria. No solid export offers have been heard either as the EU is not an option and non-EU [buyers have been] quiet,” a source commented.
In the HRC segment, the official local price from Tosyali Algerie has remained at DZD 110,000/mt or around $695/mt ex-works according to the current exchange rate. Still, according to the latest information from sources, some of the deals done within the scope of projects in Algeria have been concluded at DZD 105,000/mt ($665/mt) ex-works and even slightly lower. As for exports, according to market players, Algeria is standing at $580-590/mt FOB for August and September shipments of HRC, down slightly over the past week.
Local prices in DZD include 19 percent VAT.
$1 = DZD 132.88
