The National Association of Banks and Financial Institutions of Algeria stated that they will ban the import of specific steel products in order to reduce dependence on imported steel, narrow the trade deficit, and also strive to promote domestic steel production.

The ban targets specific steel products including steel alloy wire rods (customs tariff number 7227 90 00 00), and requires all banks not to approve the import of these steel products.

Algeria has recently started to export steel products that had been imported for many years. Algerian Industry Minister Ali Aoun emphasized that relying on imported steel is a dangerous stage and highly supports domestic steel production to ensure stable economic development.

This policy change reflects Algeria's emphasis on domestic steel production and the development of related domestic industries, aiming to achieve economic self-sufficiency.