No sign of anticipated improvement in Spanish flat steel market

SteelOrbis has learned from market sources that demand in the Spanish flat steel market is still low, while the expected improvement in the market has failed to materialize even though it is now nearly the end of the first quarter. Meanwhile, prices in the local market have trended downward just like the general trend all across Europe, decreasing by €30-35/mt ($42-49/mt) over the past month.
 
Domestic hot rolled coil (HRC) prices in Spain are standing at €430-440/mt ($598-612/mt), while domestic cold rolled coil (CRC) and local hot dip galvanized (HDG) coil prices are at €500-510/mt ($695-709/mt). All prices are ex-works and are for April rolling.
 
On the other hand, import offers from Brazil, India, China and the Middle East to Spain for May shipments can be found at €425-435/mt ($591-605/mt) CIF for HRC, at €490-500/mt ($681-695/mt) CIF for CRC and at €450-460/mt ($626-639/mt) CIF for hot rolled pickled and oiled (HR P&O) coil. The offers have declined by €45-50/mt ($63-70/mt) over the past month.
 
€1 = $1.39