Demand in the Portuguese flat steel market has remained weak in September. Market players state that buyers are postponing their bookings since they think that the downtrend in the global flat steel market will continue. Currently, hot rolled coil (HRC) prices in the local Portuguese market are at €370/mt ($418/mt) ex-warehouse, excluding 23 percent VAT, and for September deliveries.
Meanwhile, hot dip galvanized (HDG) coil prices in the local Portuguese market are at €470/mt ($531/mt) ex-works, excluding 23 percent VAT.
€1 = $1.13