An Algerian mill has lately resumed its billet exports, managing to trade significant volumes. Several traders have taken positions and have in general paid the market price. As a result, several markets have already started receiving offers of Algerian billet again at realistic price levels. “It is a clean origin and, what is most important, it is for closer delivery than Asian or GCC material,” a source said.
Earlier this week, Algerian Qatari Steel (AQS) traded up to 120,000 mt of square billet for export to several trading companies within the price range of $489-495/mt FOB. The cargoes are for October-November shipments. Some of these lots may already be on offer to North African countries like Tunisia at $520-525/mt CFR, while Turkey has started receiving offers at $525-530/mt CFR for Algerian material, SteelOrbis has learned. The price level is considered workable for Turkey since the latest “clean” origin cargo has been sold from Ukraine at $520-525/mt CFR and the latest ex-GCC and ex-Asia offers have been mainly in the range of $535-545/mt CFR.