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.
