Longs export offers from North Africa-based suppliers remain competitive against export offers from Turkey, which is forced to keep its offers higher due to increased workable import scrap prices. In fact, although demand has been relatively quiet lately, North African export offers are reported to be quite attractive, being at least $5-15/mt lower than the offers from Turkey, depending on the origin.
In Egypt, while domestic longs prices have remained at EGP 38,300/mt ex-works or $665/mt ex-works according to a $1 = EGP 50.57 rate, export price levels are much lower, affected by international competition. While earlier mills were targeting $570/mt FOB for rebar and $580/mt FOB for wire rod, the most recent offer levels have settled $10/mt lower those levels. One of the Algerian mills, according to sources, is officially offering $580/mt FOB for both rebar and wire rods, while $10/mt lower levels are considered workable by buyers. Another Algeria supplier has been in the market with indicative offers of $550-555/mt FOB for rebar and $10/mt lower for wire rod. The lowest export prices from North Africa are coming from Libya at the moment with rebar offered at $520/mt FOB, SteelOrbis has learned.
In Israel‘s import market, rebar offers from Russia have been reported at $580-585/mt CFR and offers for rebar in coil at $600-605/mt CFR. In the meantime, rebar offers from China are at $575-585/mt CFR, SteelOrbis has learned. In Egypt, Russian wire rod prices have been reported at quite low levels of $530-540/mt CFR.
