The imported steel billet market in Algeria is expected to become tighter by the end of the year amid the development of local production capacities, sources told Fastmarkets.
"The [import billet market] is very close. It's not easy to do business with the two majors buyers of billet [Tosyali and Algerian Qatari Steel (AQS)]. Besides, Tosyali is working with [direct reduced iron] DRI and AQS will work soon with DRI," a local trader told Fastmarkets, adding that this will make importing billet into the country more difficult.Over the first five months of 2019, Algeria imported 435,175 tonnes of billet, down by 11.4% year on year from 491,352 tonnes over the same period of 2018. In total, Algeria imported 1 million tonnes of steel billet in 2018, with 98% of imports originating in the Commonwealth of Independent States.Fastmarkets' daily steel billet index, CIS export, fob Black Sea was at $410 per tonne on August 2, unchanged day on day. So far the situation in Algeria has not influenced the CIS billet price index.Demand for steel billet imported...