The Portuguese flat steel market continues to move downwards in line with the general downtrend in southern European flat steel prices against the background of iron ore price declines, as well as due to sluggish domestic demand.
Accordingly, domestic flat steel spot prices in Portugal have decreased by about €5-10/mt ($7-13/mt) since last week, while import offers have come down by €5/mt in the same period. Currently, hot rolled sheet (HRS) prices are standing at €570-580/mt ($735-748/mt) ex-warehouse, while hot rolled coil (HRC) prices are at €520-525/mt ($671-677/mt) ex-warehouse. In the meantime, Spanish HRC offers to Portugal are now standing at €500/mt ($645/mt) CPT for may shipments.
On the other hand, Portuguese hot dip galvanized (HDG) coil producer Lusosider has kept its prices unchanged since last week at $580/mt ($748/mt) ex-works.
€1 = $1.29