Flat steel demand remains poor in Portugal

SteelOrbis has learned that in the Portuguese flat steel market demand has remained weak. The general expectation is for the market to indicate a price softening next week. While local market quotations have decreased by €10/mt ($13/mt) as compared to mid-April, local producer Lusosider's (hot dip galvanized) HDG offers to the domestic market have also softened by €20/mt ($26/mt) over the same period.
  
Accordingly, in the Portuguese flat steel market prices of hot rolled sheet (HRS) are currently standing at €590-600/mt ($761-744/mt) ex-warehouse, while June production hot rolled coil (HRC) prices are at the base price level of €530-535/mt ($684-697/mt) and ex-Italy June production HRC offers are at €530-540/mt ($684-697/mt) base price level.
 
In the meantime, Portuguese producer Lusosider's domestic offers for HDG coil are at the level of €610-620/mt ($787-800/mt) base.
 
€1 = $1.29