Tosyali Algerie, an integrated long steel producer in Algeria, has recently increased its offers for the domestic market. Local demand, however, remains subdued.
The company has increased its rebar and wire rod local prices by DZD 750/mt over the past month or by $9/mt on US dollar basis. As a result, rebar from Tosyali Algerie is currently available at $473/mt (DZD 61,750/mt) ex-works and its wire rod is available at $490/mt (DZD 69,750/mt) ex-works. In the meantime, Algerian Qatari Steel’s prices remain at higher levels, at $498/mt (DZD 69,750/mt) ex-works for rebar and at $509/mt (DZD 72,500/mt) ex-works for wire rod.
Market players are somewhat confused regarding the price increase from Tosyali Algerie, saying that demand in the country is not sufficient and that most sellers have large stocks to sell. Import rebar offers from the EU are reported at €400-410/mt CFR ($445-455/mt CFR), generally considered as not workable. In the meantime Tosyali Algerie remains active in exports with rebar offers at $450/mt FOB, SteelOrbis has learned.
US dollar-denominated prices exclude nine and 19 percent VAT for rebar and wire rod, respectively.
$1 = DZD 119.66
€1 = $1.11