Spanish domestic flat steel market still trends down

In this week's Spanish flat steel market, demand has remained low, while domestic hot rolled coil (HRC) and cold rolled coil (CRC) base prices have softened by €5-10/mt ($6-13/mt) over the past week. Meanwhile, import flat steel offers to the country have maintained their previous levels due to the weakening of the euro against the US dollar. The soft price trend in the southern Europe markets and long-standing low demand are considered to be the main reasons for this decline in the Spanish domestic market.
 
Currently, hot rolled coil (HRC) base prices in Spain are now standing at €490-500/mt ($627-640/mt) ex-works, while domestic cold rolled coil (CRC) base offers are at €555-570/mt ($710-730/mt) ex-works, both for April-May production.
 
On the other hand, import offers from Brazil, India, China and the Middle East to Spain for May rolling can still be found at €500-510/mt ($640-653/mt) CIF for HRC, €560-570/mt ($717-730/mt) CIF for CRC and €530-540/mt ($678-691/mt) for hot rolled pickled and oiled coil (HR P&O).
 
€1 = $1.28