Billet deals expected in Algeria

Friday, 10 January 2020 11:41:27 (GMT+3)   |   Istanbul
       

Import billet negotiations have resumed in Algeria with some deals expected to be concluded soon. Some re-rollers are in the market and one of the steel producers is expected to reopen a billet tender shortly.

The latest offers for rebar quality square billet were reported in Algeria at $445-447/mt CFR for February shipments, coming from both mills and traders. One of the re-rolling companies is in the market with a 10,000 mt order for close delivery, aiming to book at around $430/mt CFR. Around the same level was fixed in a sale to a large steel producer at the end of December for 10,000 mt, to be supplied by a trader. Currently, the $430/mt CFR level for the base grade seems to be hard to achieve since import scrap prices in Turkey are relatively stable and so CIS-based billet sellers see no reasons for discounts for now, SteelOrbis understands.

Ex-CIS offers for wire rod billet grade have been reported at a minimum of $450/mt CFR for SAE 1006, SteelOrbis has learned. Some orders are expected to be given shortly. In particular, local producer Algerian Qatari Steel is planning to reopen its tender for import billet soon, now when trade on CFR basis is allowed again. Previously, the company had a tender for 20,000 mt of wire rod grade billet, but it was terminated amid concerns regarding new import regulations.


Similar articles

Turkey’s Kardemir issues planned sales volumes for April-June

22 Mar | Steel News

Iran’s steel exports up 7.6 percent in first 11 months of Iranian year

20 Mar | Steel News

Ex-Turkey official merchant bar prices soften

01 Mar | Longs and Billet

Ex-China billet most competitive in SE Asian billet market amid lower futures prices

22 Feb | Longs and Billet

Italy’s Feralpi Group to meet construction sector’s carbon-reduced rebar demand

20 Feb | Steel News

Local Indian rebar trade prices improve slightly, but fundamentals still negative

20 Feb | Longs and Billet

India’s RINL floats export tender for 15,000 mt of rebar for April delivery

20 Feb | Longs and Billet

India’s RINL floats export tender for 30,000 mt of billet

20 Feb | Longs and Billet

China comes back from long holiday with mixed signals

19 Feb | Flats and Slab

Billet offers in SE Asia limited, fall of around $5-10/mt expected from next week

15 Feb | Longs and Billet