UK-based steel producer British Steel has been confidently expanding its presence in the export markets, thus gradually regaining the status of an important steel supplier in the region. The company has recently made sales to North Africa and plans to further cooperate with end-users in this and other regions.
Since last week, British Steel has traded two 140 mm x 140 mm billet lots, of 10,000 mt each, to Morocco at €355/mt CFR, SteelOrbis has learned. The cargoes will be shipped in late July or early August. Moroccan buyers are expected to remain interested in ex-UK billet as there is no duty for billet of this origin, while CIS billet is subject to 2.5 percent tax. Previously Morocco was mainly buying billet from southern Europe, but from now on competition will toughen.
Earlier, the company traded some 60,000 mt of semis to Turkey, while some small lots were delivered to Italy and Germany by trucks. British Steel is foreseen to shortly become a serious player in the market as its production has been gradually getting in line with its plans and volumes are expected to increase in the October-November period. According to the recent estimations, British Steel will be able to export up to 120,000 mt of steel semis and 30,000 mt of the finished products, SteelOrbis has learned.
