In previous weeks, flat steel import offers to the Portuguese market had increased by about €20-30/mt ($27-40/mt). However, since the increased prices have failed to gained acceptance in the market, import offers have been pushed down by €10-20/mt ($13-27/mt). Traders have told SteelOrbis that, while flat steel demand lacks strength in
Portugal, domestic hot rolled sheet (HRS) prices have risen by €10/mt ($13/mt) as compared to two weeks ago, reaching €600-610/mt ($798-811/mt) ex-warehouse.
Italian offers to
Portugal for March production hot rolled coil (
HRC) are standing at the base price level of €530/mt ($705/mt) CFR, while
HRC offers from
Spain are at €555/mt ($738/mt) CPT. In the meantime, cold rolled coil (
CRC) import offers from
Italy are at around €610/mt ($811/mt) CFR.
Steel
plate inventories are reported to be low in
Portugal, while Italian
plate offers to
Portugal are standing at the base price level of €600/mt ($798/mt) CFR.
On the other hand, Portuguese producer
Lusosider is offering hot dip
galvanized (HDG) coil to its domestic market at €650/mt ($865/mt) ex-works, up by €30/mt ($40/mt) as compared to mid-February.
€1 = $1.33