Flat steel import offers to Portugal decline amid slack demand

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