The bi-monthly SteelBenchmarker™ United States HRB price for Oct. 12 fell 1.1 percent to $609 per metric ton, FOB the mill, eight consecutive rises. The World export HRB price fell 1.5 percent to $537 per ton, FOB the port of export, for the second consecutive decline. The Chinese HRB ex-works price fell 1.9 percent to $407 per ton for the fourth consecutive decline. The Western European HRB price dropped 4.0 percent to $582 (on a Euro basis, it dropped 6.9 percent), ex-works, after seven consecutive rises.
The four benchmark prices for hot-rolled band for Oct. 12, 2009 are: - U.S.—$609 per metric ton ($552 per net ton), FOB the mill—down $7 per ton from $616 ($559 net) two weeks ago, but up $180 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $594 (49.4 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $379 per ton from the record low of $230 ($209 net) in December 2001.
- China—$407 per metric ton, ex-works—down $8 per ton from $415 two weeks ago, but up $16 per ton from the recent low of $391 on April 13, 2009. It is down $326 (44.5 percent) per ton from the record peak of $733 on July 14, 2008 and up $160 per ton from the record low of $247 in January 2002.
- Western Europe—$582 (€391) per metric ton, ex-works—down $24 per ton from $606 (€416) two weeks ago (on a Euro basis, down €25), but up $129 (up €52) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $622 (€365) (51.7 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $393 (€179) per ton from the record low of $189 (€212) in December 2001.
- World Export Price—$537 per metric ton, FOB the port of export—down $8 per ton versus $545 two weeks ago, but up $143 per ton from the recent low of $394 on May 11, 2009. It is down $576 (51.8 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $362 per ton from the record low of $175 in December 2001.
SteelBenchmarker™ publishes steel benchmark prices for hot-rolled band, cold-rolled coil, rebar and standard plate in the following regions: the U.S., Western Europe, and the world export market. Additionally, there are benchmark prices for steel scrap in the U.S.
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