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Spanish HRC Steel prices remain steady so far in April

Spanish hot rolled coil steelmakers managed to hold onto last month’s selling figures in April, according to MEPS International. Russian and Chinese producers are offering competitively priced imports. Moreover, there are some new quotations from Turkey.
According to MEPS, the hot rolled plate market is quite active but, as the domestic supplier is focussing on the higher qualities, most purchases are of overseas material, mainly of Chinese origin. There are smaller quantities of Russian plate on offer. Ukrainian mills are trying to sell but are not competitive. Moreover, buyers are not confident that delivery promises will be kept.
Local basis numbers for cold rolled coil are unchanged despite cheap third country material being offered from Russia and China. Demand from Spanish carmakers has improved. However, attractively priced overseas quotations are keeping the lid on domestic coated coil prices.
Wire rod producers have agreed a small discount, during negotiations for supplies of low carbon material. Although sales of the mesh quality are flat, selling figures have moved back up to the February level. Prices for structural section have been maintained as steelmakers focus on export markets. Local activity is quiet at present but some large public works projects are in the process of being announced.

Rapidly climbing scrap costs in Spain have not, so far, resulted in higher rebar prices, as the domestic market is quiet. Suppliers are exporting some material to the USA as well as to North Africa. Merchant bar suppliers have hung on to the March numbers, despite subdued sales to end-users.

Zhejiang Yaang Pipe Industry Co., Limited (www.yaang.com)

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