Portuguese flat steel prices indicate decreases

Thursday, 20 June 2013 15:17:00 (GMT+3)   |   Istanbul
       

Demand in the Portuguese flat steel market has remained on the weak side, while prices have declined further. As compared to last month, local hot rolled sheet (HRS) prices have declined by €20/mt ($26/mt), while hot rolled coil (HRC) prices in the domestic market have moved down by €10-15/mt ($13-20/mt) and import hot rolled coil (HRC) offers from Spain have weakened by €5-15/mt ($7-20/mt). As any purchases made at the moment may be delivered in August, Portuguese buyers are expected to conclude some deals in the current month, as inventory levels in the Portuguese domestic market are quite low and shortages in early September will likely reach significant levels.

Currently, HRS prices in the Portuguese domestic market are standing at €540-550/mt ($713-726/mt), while HRC prices are at €490-500/mt ($647-660/mt), both ex-warehouse and for June deliveries. In the meantime, Spanish HRC base offers to Portugal stand at €455/mt ($601/mt) CFR and Italian HRC base offers can be found at €430/mt ($568/mt) CFR - both for August shipments.

On the other hand, Portuguese hot dip galvanized (HDG) coil producer Lusosider has reduced its prices by €15/mt ($20/mt) this month to €535/mt ($710/mt) ex-works, for July deliveries.

€1 = $1.32

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.   


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