SteelOrbis has learned from market sources that demand has failed to improve in the Portugese flat steel market, where higher demand was expected after the summer holdiay and where spot inventories increased in line with this expectation. Prices have increased by €30/mt ($40/mt) as compared to the period before the holiday, while a recovery is observed in profit margins. However, price decreases are expected in the Portugese flat steel market due to slack demand.
Accordingly, hot dip galvanized (HDG) base prices in the Portugese domestic market for November deliveries are standing at €550/mt ($742/mt) ex-works, while ex-Spain HDG offers to Portugal for November shipments are standing at €470/mt ($634/mt) CFR. Meanwhile, offers from Spain to Portugal for hot rolled coil (HRC), cold rolled coil (CRC) and hot rolled sheet (HRS) are standing at €470/mt ($634/mt), 555€/mt ($749/mt) and €475/mt ($641/mt) CFR respectively, for November deliveries. All the prices exclude VAT.
€1 = $1.35
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.