SteelOrbis has learned from market sources that, even though demand in the Spanish flat steel market has shown a slight improvement, it is still too early to talk about a full recovery. Over the past month, meanwhile, local flat steel prices have trended sideways, and sources believe this is the most suitable price policy given the current market conditions, while import prices have moved up by €10-20/mt ($14-28/mt) over the same period.
Hot rolled coil (HRC) domestic prices in Spain are standing at €430-440/mt ($593-607/mt), while domestic cold rolled coil (CRC) and local hot dip galvanized (HDG) coil prices are at €500-510/mt ($690-704/mt). All prices are ex-works and for May deliveries.
On the other hand, import offers from Brazil, India, China, CIS and the Middle East to Spain for June shipments can be found at €440-450/mt ($607-621/mt) CIF for HRC, at €500-510/mt ($690-704/mt) CIF for CRC and at €470-480/mt ($649-662/mt) CIF for hot rolled pickled and oiled (HR P&O) coil.
€1 = $1.38