Algeria will switch to fob-basis trade from cfr starting from January 2020, Fastmarkets learned on the sidelines of the Middle East Iron & Steel Conference being held in Dubai from December 9-11.
"The government is doing it with an aim of controlling the outflow of foreign currency from the country so they want to see how much is paid for the product and how much is paid for the delivery," an Algerian producing source said."This may negatively affect steel import volumes, particularly billet, as no one has...