Demand in the Portuguese flat steel market has been weak during the past month. Portuguese buyers have been focused on imports amid the fluctuations recorded in the US dollar-euro exchange rate, while demand has weakened due to approaching holiday season. Over the past month, hot rolled sheet (HRS) prices in the local Portuguese market have increased by €10/mt ($11/mt) to €480-490/mt ($533-544/mt) delivered to customer, excluding 23 percent VAT, and for May deliveries. Meanwhile, hot dip galvanized (HDG) coil prices in the local Portuguese market are currently at €490/mt ($544/mt) ex-works, also excluding 23 percent VAT, but for July production.
On the other hand, Spanish hot rolled coil (HRC) to Portugal are still in the range of €405-410/mt ($440-455/mt) CIF, for July production.
€1 = $1.11
Latest situation in Portuguese flat steel market
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