Demand in the Portuguese flat steel market is currently at low levels, while the downward trend seen in flat steel prices in the market is expected to continue in the coming period. Meanwhile, attractive import flat steel offers are negatively impacting Portuguese producers' sales and continue to put downward pressure on domestic flat steel prices. Currently, hot rolled sheet (HRS) prices in the local Portuguese market are at €380-400/mt ($414-436/mt) delivered, excluding 23 percent VAT, and for January deliveries. Meanwhile, hot dip galvanized (HDG) coil prices in the local Portuguese market are at €405/mt ($441/mt) ex-works, excluding 23 percent VAT.
On the other hand, Spanish HRC offers to Portugal are currently at €310/mt ($338/mt) CIF, while Spanish HDG offers to the same destination are at €400/mt ($436/mt) CIF, both for February delivery.
€1 = $1.09