Spanish domestic steel market was affected by political instability and other external factors such as EU peer-to-peer competition pressure, rising electricity costs and trade disputes this year and Brexit.
The demand for Spanish long market in 2019 was unclear. In 2018, the demand for long products in Spain increased by 11.4% compared with the previous year. In 2019, steel demand will be affected by factors such as rising prices of imported steel products and raw materials.
In addition, Spanish exports to other EU countries such as Germany and Italy have declined, and other market currency shocks also affected profitability.