Libya’s largest rebar producer Libyan Iron & Steel Company (LISCO) continues to expand its export presence, targeting sales to nearby countries.
Last Tuesday, July 30, the company shipped its first 5,000 mt of rebar to Lebanon, with the cargo now already having arrived, SteelOrbis has been informed. Previously, LISCO was selling to Algeria, with the first shipment to this destination completed in March this year.
The current rebar export price from LISCO is at $475/mt FOB for end-August shipments; however, the level is not considered workable as there are more competitive offers in the Mediterranean region. In particular, rebar from Turkey is widely available at $460/mt FOB for shipments at the end of August-beginning of September. However, LISCO has an advantage of zero percent import duty when dealing with the Arab consumer markets. “Shipping is problematic as many vessels refuse to go to Libya. Risks are high and so are the freight rates,” a trader told SteelOrbis.
