HRS prices in the Portuguese market are at €475/mt ($678/mt) ex-warehouse on actual weight basis for 60-day deferred payment. In the Portuguese market, demand remains stable partially due to the summer period, while the HRC sales prices of steel service centers have increased by €5/mt compared to last week.
On the HDG side, Portuguese HDG sheet producer Lusosider's production is booked until the end of September. It is foreseen that the producer will announce its base prices for November production in October. It is expected that Lusosider will announce its new prices at the base price levels of €490-500/mt ($699-714/mt) ex-works.
Meanwhile, the Portuguese flats market is currently characterized by normal stock levels. Spanish and Italian producers, who have yet to give offers to the Portuguese market, are expected to give fresh offers as of September.
€1 = US$1.42749