During the current month, demand in the Spanish flat steel market has continued to be at medium levels. Market sources state that Spanish buyers are making import flat steel booking as much as they make domestic flat steel purchases, while flat steel offers to the country have continued to decrease. Despite the medium flat steel demand, Spanish flat steel sellers are unwilling to increase their prices amid softening import flat steel offers.
Meanwhile, hot rolled coil (HRC) prices in the local Spanish market have remained stable at €400-410/mt ($456-467/mt) ex-warehouse over the past month, excluding 21 percent VAT and for June deliveries. Meanwhile, imported HRC offers in Spain have decreased by $5/mt month on month to €385-395/mt ($439-450/mt) CIF, for August shipments.
€1 = $1.14