Domestic flat steel prices stable in Spain, import prices soften

Demand has remained low in the Spanish flat steel market. Domestic production flat steel prices have followed a neutral trend this week, after declining in the previous two weeks. In the past week, import hot rolled coil (HRC) and hot rolled pickled and oiled coil (HR P&O) prices in Spain have indicated a decrease of €5/mt ($7/mt), while import cold rolled coil (CRC) prices are unchanged.
 
Accordingly, HRC base prices are still standing at €490-500/mt ($642-655/mt) ex-works, while domestic CRC base offers are at €555-570/mt ($727-747/mt) ex-works, both for May production.
 
On the other hand, import offers from Brazil, India, China and the Middle East to Spain for May rolling can be found at €495-505/mt ($648-662/mt) CIF for HRC, €560-570/mt ($734-747/mt) CIF for CRC and €525-535/mt ($688-701/mt) for HR P&O.
 
€1 = $1.31