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HRB price decline continues

The bi-monthly SteelBenchmarker™ U.S. HRB price spot for July 25 fell 4.9 percent to $770 per ton, FOB the port of export, for the eighth consecutive decline. The World export HRB price declined 2.1 percent to $693 per ton, FOB the port of export, for the third consecutive decline. The Western European HRB price slipped 0.3 percent to $761 per ton (on a Euro basis, it fell 3.7 percent), ex-works, for the fifth consecutive decline. The Chinese HRB ex-works price rose 1.5 percent to $630 per ton for the second consecutive increase.

The four benchmark prices for HRB for July 25, 2011 are:

  • U.S.—$770 per metric ton ($699 per net ton), FOB the mill—down $40 per ton from $810 ($735 net) two weeks ago but up $169 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is down $6 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $433 (36.0 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
  • China—$630 per metric ton, ex-works—up $9 per ton from $621 two weeks ago and up $148 per ton from the recent low of $482 on July 12, 2010. It is up $56 per ton from the previous high of $574 on April 26, 2010, but down $103 (14.1 percent) from the record peak of $733 on July 14, 2008.
  • Western Europe—$761 (€525 per metric ton, ex-works—down $2 per ton from $763 (€554) two weeks ago (on a Euro basis, it was down €20) but up $93 (€31) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $19 (down €59) from the previous high of $742 (€584) on May 10, 2010 but down $443 (€231) (36.8 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
  • World Export Price—$693 per metric ton, FOB the port of export—down $15 per ton from $708 two weeks ago but up $109 per ton from the recent low of $584 on July 12, 2010. It is down $25 per ton from the previous high of $718 on April 26, 2010 and down $420 (37.7 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.