HRB price falls in China, rises elsewhere

September 18, 2009

The bi-monthly SteelBenchmarker™ United States HRB price for Sept. 14 surged 7.2 percent to $607 per metric ton, FOB the mill, for the seventh consecutive rise. The Western European HRB price surged 6.0 percent to $604 (on a Euro basis, it rose 4.0 percent), ex-works, for the sixth consecutive rise. The United States HRB spot price rose 2.4 percent to $566 per metric ton, FOB the mill, for the sixth consecutive increase. The World export HRB price rose 0.9 percent to $551 per ton, FOB the port of export, for the eighth consecutive rise. The Chinese HRB ex-works price fell 5.4 percent to $437 per ton, for the second consecutive decline.

The four benchmark prices for hot-rolled band for Sept. 14, 2009 are:

  • U.S.—$607 per metric ton ($551 per net ton), FOB the mill—up $41 per ton from $566 ($514 net) three weeks ago, and up $178 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $596 (49.5 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $377 per ton from the record low of $230 ($209 net) in December 2001.
  • China—$437 per metric ton, ex-works—down $25 per ton from $462 three weeks ago, but up $46 per ton from the recent low of $391 on April 13, 2009. It is down $296 (40.4 percent) per ton from the record peak of $733 on July 14, 2008 and up $190 per ton from the record low of $247 in January 2002.
  • Western Europe—$604 (€397) per metric ton, ex-works—up $34 per ton from $570 (€397) three weeks ago (on a Euro basis, up €16), and up $151 (up €74) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $600 (€343) (49.8 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $415 (€201) per ton from the record low of $189 (€212) in December 2001.
  • World Export Price—$551 per metric ton, FOB the port of export—up $5 per ton versus $546 three weeks ago, and up $157 per ton from the recent low of $394 on May 11, 2009. It is down $562 (50.5 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $376 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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