Long steel export prices from Algeria have decreased over the past two weeks, partly due to the general weakening of the market in the region. In addition, domestic consumption in the country remains limited amid political unrest.
The rebar export price from Tosyali Algerie has decreased by $15/mt since early August to $485/mt FOB for October shipments. The company’s wire rod price declined by the same amount to $500/mt FOB, SteelOrbis has learned. The producer is reported to be in active negotiations with US rebar buyers, with deals expected to be heard shortly. The recent rebar sales from Turkey to the US have been closed at slightly above $635/mt CFR on theoretical weight basis, duty paid. “Today $630-635/mt CFR could work for America, but there’s Turkey trying to sell all over the place,” a trader mentioned. The previous Tosyali sale to the US was closed at $650/mt CFR at the end of July.
Tosyali Algerie is not the only mill from North Africa targeting export sales. According to sources, Morocco-based Sonasid is also in the market with $485/mt FOB for rebar and $510/mt FOB for wire rod. The products are available for September-October shipments. The supplier might be also targeting sales to the US. Last year, according to market sources, the company shipped 20,000 mt of rebar and 10,000 mt of wire rod to the destination in question.
Libyan Iron & Steel has been offering rebar for export at around $470/mt FOB for August shipment. The supplier is concentrating more on nearby outlets, SteelOrbis understands.