Latest situation in Portuguese flat steel market

Demand in the Portuguese flat steel market has been weak during the past month. Portuguese buyers have been purchasing only in line with their needs, while stocks have been reduced due to the approaching holiday season. Over the past month, hot rolled sheet (HRS) prices in the local Portuguese market have remained unchanged at €480-490/mt ($542-554/mt) delivered to customer, excluding 23 percent VAT, and for June deliveries. Meanwhile, hot dip galvanized (HDG) coil prices in the local Portuguese market have declined by €10/mt ( $11/mt) in the same period to €480/mt ($542/mt) ex-works, also excluding 23 percent VAT, but for August production.
 
On the other hand, Spanish hot rolled coil (HRC) to Portugal are still in the range of €405-410/mt ($458-463/mt) CIF, for August production.
 
€1 = $1.13