Demand in the Portuguese flat steel market is currently at medium levels. Market sources state that with the US dollar maintaining its strength against the euro, import volumes arriving in the Portuguese market have declined, while the exchange rate has provided support for Portuguese exports. Demand in the local market has reached satisfactory levels after its long-standing slackness. Currently, hot rolled sheet (HRS) prices in the local Portuguese market are at €470/mt ($512/mt) delivered, excluding 23 percent VAT and for April deliveries.
On the other hand, Spanish hot rolled coil (HRC) and cold rolled coil (CRC) offers to Portugal are in the range of €405-410/mt ($441-447/mt) CIF and €495-500/mt ($540-545/mt) CIF, respectively. Meanwhile, Italian electro-galvanized (EG) coil offers to the same destination are now at €530/mt ($578/mt) CIF. All prices are for June production.
€1 = $1.09