LISCO strengthens exports, Algeria in focus
Libyan Iron and Steel Company (LISCO), Libya’s major steel supplier, continues to expand its presence in foreign markets with Algeria among key targets. At the same time, the company does not exclude more intense cooperation with other outlets as well.
After delivering the first rebar cargo to Algeria at the beginning of March 2019, LISCO continues to serve this destination, having recently marketed another 7,000 t, local media reports.
LISCO’s focus on the Algerian market is logical, taking into account that it does not need to pay a 15% import duty like for example CIS and Turkish suppliers. In addition, the supplier can provide competitive prices in comparison with local ones.
The latest rebar offers from LISCO for to Algeria are reported at up to $490/t FOB or around $505-508/t CFR this week.
The mill, however, plans to continue to test the waters in the international market. In particular, LISCO started to offer its rebar to Lebanon.