EU long steel market sentiment weakens as Algeria complicates import regime

Sentiment in the European rebar and wire rod markets has worsened over the past week, sources told Metal Bulletin on Wednesday March 29.

The Algerian ministry of commerce announced a week ago that all products will now be subject to the licensing system if they are imported to be resold in the same state to end-users.
“It will further complicate the whole import procedure, as most importers of rebar are distributors so they will be fully affected by this,” a trading source involved in Algeria-bound business said.

“Licences will [now] be needed for everything, from long [steel] products to … bananas, so we should expect chaos,” a producer source...

Published

March 29, 2017

15:35 GMT

London