Flat steel demand in the Spanish domestic market has remained weak. Low activity on infrastructure construction in Spain, which has almost come to a standstill, has been affecting the market negatively, though the automotive sector has shown some signs of improvement on the back of export activities.
In the local Spanish market, ArcelorMittal is offering hot rolled coil (HRC) at €520-540/mt ($707-734/mt), while the mill's offers for cold rolled coil (CRC) are in a range of €570-590/mt ($775-802/mt), both on ex-works basis and for shipment in March-April.
On the other hand, import offers for March-April shipment from Russia, Brazil, India, China and the Middle East to Spain for HRC are standing at €500-520/mt ($680-707/mt) CIF, while hot rolled pickled and oiled (HRP&O) offers from these destinations are at €530-550/mt ($721-748/mt) CIF and CRC offers are at €560-580/mt ($762-789/mt) CIF.
€1 = $1.36