Despite weak demand, flat steel prices in the local Portuguese market have registered slight increases over the past two weeks, as traders wanted to reflect the uptrend of raw material prices in their offers. Accordingly, hot rolled coil (HRC) prices have moved up by €5/mt ($7/mt) on the higher end, while hot rolled sheet (HRS) quotations have increased by €10/mt ($13/mt) on the higher end as well. In the meantime, ex-Spain HRC offers have registered an increase of €5/mt ($7/mt) on the lower end over the past two weeks.
SteelOrbis has learned that in the Portuguese flat steel market the prices of HRC are now at €535-540/mt ($712-718/mt) ex-works, while HRS is now being offered at €600-610 ($798-811/mt) ex-warehouse, both are for shipments in February. In addition ex-Spain HRC offers to the country are at the base price level of €505-510/mt ($672-678/mt) CFR for shipments in March-April.
Furthermore, while market sources believed that local producer Lusosider might increase its offer prices by €20/mt ($27/mt), so far the mill has kept its base offers for hot dip galvanized (HDG) coils unchanged at €570/mt ($758/mt) ex-works, for February deliveries.
€1 = $1.33