Inventory in the Portuguese flat steel market has remained low, while demand is at poor levels. Import flat steel offers to the country have remained stable over the past month, whereas local hot rolled sheet (HRS) prices have increased by €20-25/mt ($28-35/mt). This price hike is attributable to the low stock levels, while orders have been placed with steel mills for the coming months, though products have not reached customers' stocks yet. Meanwhile, Portuguese hot dip galvanized (HDG) coil producer Lusosider has increased its prices by €5/mt ($7/mt) over the same period to €530/mt ($731/mt) ex-works, for January deliveries.
Currently, HRS prices in the Portuguese domestic market are standing at €540/mt ($745/mt) ex-warehouse for prompt deliveries. In the meantime, Spanish HRC offers to Portugal stand at €455/mt ($628/mt) CIF and Italian HRC offers can be found at €450/mt ($621/mt) CIF - both for February shipments and excluding VAT.
€1 = $1.38
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