Algerian Qatari Steel (AQS) has announced a new import billet tender, as it needs to restock amid certain delays in raw material supply. The producer is seeking to buy 20,000 mt of rebar grade billet and 10,000 mt of SAE1006 billet, SteelOrbis has learned. The volume is for January-February shipment.
Market sources comment that this may not be the best time for large buyers to enter the market for purchases, taking into account the rapidly increasing prices. “It is impossible to find anything below $440/mt FOB from the CIS today and the prices seem to keep on increasing,” a trader told SteelOrbis. However, others believe it may be on the contrary the good time to buy before prices surge further.