HRB pricing momentum stalls; China up, U.S., World, & Western Europe down

April 13, 2011

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for April 11 rose 3.6 percent to $628 per ton for the second consecutive rise. The United States HRB spot price slipped 0.1 percent to $969 per metric ton, FOB the mill, after rising nine consecutive times. The World export HRB price fell 1.3 percent to $759 per ton, FOB the port of export, after rising three consecutive times. The Western European HRB price fell 1.4 percent to $840 per ton (on a Euro basis, it fell 4.1 percent), ex-works, after rising eight consecutive times.

The four benchmark prices for HRB for April 11, 2011 are:

  • U.S.—$969 per metric ton ($879 per net ton), FOB the mill—down $1 per ton from $970 ($880 net) two weeks ago but up $368 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $193 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $234 (19.5 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
  • China—$628 per metric ton, ex-works—up $22 per ton from $606 two weeks ago and up $146 per ton from the recent low of $482 on July 12, 2010. It is up $54 per ton from the previous high of $574 on April 26, 2010, but down $105 (14.3 percent) from the record peak of $733 on July 14, 2008.
  • Western Europe—$840 (€580 per metric ton, ex-works—down $12 per ton from $852 (€605) two weeks ago (on a Euro basis, it was down €25) but up $172 (€86) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $98 (down €4) from the previous high of $742 (€584) on May 10, 2010 and down $364 (€176) (30.2 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
  • World Export Price—$759 per metric ton, FOB the port of export—down $10 per ton from $769 two weeks ago but up $175 per ton from the recent low of $584 on July 12, 2010. It is up $41 per ton from the previous high of $718 on April 26, 2010, but down $354 (31.8 percent) per ton from the record peak of $1,113 on July 28, 2008.

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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