The Spanish hot rolled coil (HRC) market has entered September on a stable note, but a price decline is expected in the coming weeks. This anticipated drop is attributed to lower demand and a sluggish post-summer industrial recovery.
Despite the return of most steel producers from maintenance, sales remain weak. The automotive industry in Spain shows no signs of improvement, and the situation in Portugal has worsened significantly this year.
Currently, Spanish mills are quoting S235JR grade HRC at around €610-620 per tonne ex-works, but some producers are preparing to reduce their offers by €10-15 per tonne. The solar energy and household appliances sectors are experiencing lower consumption than expected, and large service centers are under pressure to adjust their prices due to international market competition.
HRC import prices in Spain range between €590-600 per tonne, with increased competition from suppliers in Egypt, Japan, and Taiwan. Monthly flat steel consumption in Spain is estimated to be between 250,000-300,000 tonnes.