Tosyali Algerie, one of the key longs producers in Algeria, has adjusted its rebar and wire rod local prices, following the new VAT rates valid in the country from January 1 this year. The VAT rate for rebar was increased from nine to 19 percent and is now equal to the rate for wire rod.
The producer has increased its local rebar price by $7/mt (DZD 10,000/mt) since late December to $650/mt (DZD 102,500/mt) ex-works. The offers for wire rod have risen by $13/mt (DZD 2,500/mt) over the same period to $729/mt (DZD 115,000/mt) ex-works, SteelOrbis has learned. Sources report that demand in the country is low, specifically for rebar. As a result, mills have been seeking to sell abroad, to European countries in particular.
$1 = DZD 132.6