New Algerian import rules likely to reduce demand for rebar imports

A new regulation affecting finished goods imported into Algeria is likely to reduce demand for rebar imports in the country, sources told Metal Bulletin on Wednesday October 25.

The regulation, introduced by the Algerian Central Bank on October 22, requires importers of finished goods for resale, to provide a financial guarantee worth 120% of the value of the imported products. This must be done at least 30 days prior to the shipment of the goods.
“This regulation will put pressure on the free cashflow of rebar importers [as] the Algerian rebar import market is very quiet right now,” one trader told Metal Bulletin on October 25.

Metal Bulletin’s price assessment for Algerian rebar imports remained stable...


Viral Shah

October 25, 2017

20:13 GMT