During the current month, demand in the Spanish flat steel market has been at medium levels. Market sources state that, with the euro gaining strength against the US dollar, inquiries for import HRC increased in Spain last week. However, these inquiries have not resulted in actual transactions since the euro has started to soften again against the US dollar.
Currently, hot rolled coil (HRC) prices in the local Spanish market are at €400-410/mt ($444-455/mt) delivered, excluding 21 percent VAT and for May deliveries. Meanwhile, imported HRC offers in Spain are at €390-400/mt ($433-444/mt) CIF, for July shipments.
€1 = $1.11