Algerian Qatari Steel (AQS), one of the key steel producers in Algeria, has finalized an import square billet tender very recently. The company has managed to achieve a favorable price, despite the uptrend in the global raw materials and finished steel segments.
AQS has closed the tender with one of the Russian mills at the average price of $433/mt CFR for billets to be shipped in late September-early October. The cargo consists of 20,000 mt of rebar grade billet, 14,000 mt of SAE 1006 and 6,000 mt of SAE 1008 semis, SteelOrbis has learned. The majority of offers from other suppliers have been set at $440-445/mt CFR and above.
The price is considered to be rather advantageous for the buyer, taking into account the general uptrend in the market. Import scrap prices in Turkey have recently hit $300/mt CFR for HMS I/II 80:20 and most CIS-based mills are expected to target above $415/mt FOB for late October shipments.