Domestic flat steel prices stable in Portugal

SteelOrbis has learned that demand has remained slack in the Portuguese flat steel market, while local prices have not changed since last week. Meanwhile, Italy- and Luxembourg-based steel mills' August rolled flat steel quotations are expected to be announced this week. It is thought that the prices in question will likely maintain the same levels or will soften by as much as €10/mt ($13/mt).
 
In the Portuguese flat steel market, prices of hot rolled sheet (HRS) are still standing at €590-600/mt ($743-756/mt) ex-warehouse, while local producer Lusosider's domestic offers for July rolling hot dip galvanized (HDG) coil are at the level of €600-605/mt ($756-762/mt) ex-works.
 
In the meantime, in Italy's late July production flat steel offers to Portugal, hot rolled coil (HRC) prices are at the base price level of €515-520/mt ($649-655/mt) and HDG prices are at €580-585/mt ($731-737/mt) base price level. In addition, another Italian steel mill's July output HRC offers to Portugal are standing at the base level of €530-540/mt ($668-680/mt).
 
 
€1 = $1.26