HRB prices split: China, Western Europe up; U.S., World down

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for Oct. 26 surged 5.7 percent to $430 per ton after four consecutive declines. The Western European HRB price rose 1.0 percent to $588 per ton (on a Euro basis, it rose 1.0 percent), ex-works, after dropping last time. The World export HRB price dropped 6.3 percent to $503 per ton, FOB the port of export, for the third consecutive decline. The United States HRB price fell 2.8 percent to $592 per metric ton, FOB the mill, for the second consecutive drop.

The four benchmark prices for hot-rolled band for Oct. 26, 2009 are:

• U.S.—$592 per metric ton ($537 per net ton), FOB the mill—down $17 per ton from $609 ($552 net) two weeks ago, but up $163 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $611 (50.8 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $362 per ton from the record low of $230 ($209 net) in December 2001.
• China—$430 per metric ton, ex-works—up $23 per ton from $407 two weeks ago, and up $39 per ton from the recent low of $391 on April 13, 2009. It is down $303 (41.3 percent) per ton from the record peak of $733 on July 14, 2008 and up $183 per ton from the record low of $247 in January 2002.
• Western Europe—$588 (€395) per metric ton, ex-works—up $6 per ton from $582 (€391) two weeks ago (on a Euro basis, up €4), and up $135 (up €56) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $616 (€361) (51.2 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $399 (€183) per ton from the record low of $189 (€212) in December 2001.
• World Export Price—$503 per metric ton, FOB the port of export—down $34 per ton versus $537 two weeks ago, but up $109 per ton from the recent low of $394 on May 11, 2009. It is down $610 (54.8 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $328 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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