Domestic production flat steel prices in the local Portuguese market have remained stable as compared to last month, while import offers have increased by $20-30/mt over the same period, amid increased raw material prices and the upward trend of global plate prices. Flat steel demand has remained slack in the Portuguese domestic market, while market participants state that inventory levels are quite low and they believe that demand will likely improve in late January.
SteelOrbis has learned that in the Portuguese flat steel market the prices of hot rolled coil (HRC) are still at €535/mt ($712/mt) ex-works, while hot rolled sheet (HRS) is still being offered at €600 ($798/mt) ex-warehouse, both are for shipments in January-February. In addition ex-Spain HRC offers to the country are at the base price level of €500-510/mt ($665-678/mt) CFR for shipments in February-March.
In the meantime, local producer Lusosider's base offers for hot dip galvanized (HDG) coil are standing at €570/mt ($758/mt) ex-works, for February deliveries.
€1 = $1.33