SteelOrbis has learned that in the Spanish flat steel market demand from end-users have been low, while the transaction volume is at normal levels.
Meanwhile, as expected ArcelorMittal Spain has increased its hot rolled coil (HRC) base prices by €30/mt ($39/mt) compared to last month to €550/mt ($715/mt) for March shipments. Beside this increase, it is expected that ArcelorMittal Spain will raise its prices by a further €20-30/mt ($26-29/mt) in early February for April shipments.
On the other hand, Indian and Russian HRC export offers to Spain are at the level of €510-530/mt ($663-689/mt) CFR for February production, as SteelOrbis has been informed. According to market sources, the HRC offers given from Russia and India have been found to be reasonable by buyers in the Spanish flat steel market, while Turkish HRC export offers for February production at $650-670/mt are considered to be on the high side.
€1= $1.30