Portuguese flat steel demand still weak despite previous price decline

This week, demand in the Portuguese flat steel market is still weak, despite the softening of €5-10/mt ($7-13/mt) observed three weeks ago in domestic hot rolled coil (HRC) and cold rolled coil (CRC) prices, as well as in Spanish offers.
 
Currently, hot rolled sheet (HRS) prices in the Portuguese domestic marker are still standing at €570-580/mt ($747-760/mt), while hot rolled coil (HRC) prices are at €520-525/mt ($681-688/mt), both ex-warehouse and for April deliveries. In the meantime, Spanish HRC offers to Portugal continue to stand at €500/mt ($655/mt) CPT for late May shipments, though for real buyers prices may decrease to €490/mt ($642/mt) CPT level.
 
On the other hand, Portuguese hot dip galvanized (HDG) coil producer Lusosider, which had not adjusted its prices last month, has reduced its prices by €10/mt ($13/mt) this week to €570/mt ($747/mt) ex-works, for April and May deliveries.
 
€1 = $1.31