Long steel prices continue to weaken in Algeria, given the low consumption rates in the domestic market. The sentiment on exports has again worsened amid lower global scrap and billet prices and generally slow demand.
Tosyali Algerie, according to market sources, has dropped its domestic longs prices by around $30/mt (DZD 4,000/mt) over the past month. Currently, the producer’s rebar is available at $516/mt (DZD 67,500/mt) ex-works and its wire rod at $532/mt (DZD 76,000/mt) ex-works, SteelOrbis has learned.
In the meantime, another key longs producer in the country, Algerian Qatari Steel, has so far kept its offers unchanged at $531/mt (DZD 69,500/mt) ex-works for rebar and $560/mt (DZD 80,000/mt) ex-works for wire rod. However, it is expected that the producer will follow the downturn in prices shortly.
In the export segment, the sharp drop in steel scrap and square billet prices has also put pressure on ex-Algeria long steel prices. SteelOrbis has been informed that Tosyali Algerie is currently offering rebar for October shipments at $475/mt FOB, down by $10/mt over the past two weeks. The producer’s wire rod prices have decreased by $5/mt over the same period to $495/mt FOB.
US dollar-denominated prices exclude nine and 19 percent VAT for rebar and wire rod, respectively.
$1 = DZD 120