HRB price surge moderates

The bi-monthly SteelBenchmarker™ Western European HRB price for April 26 surged 6.3 percent to $742 per ton (on a Euro basis, it surged 8.8 percent), ex-works, for the fifth consecutive rise. The United States HRB spot price was up 3.2 percent to $772 per metric ton, FOB the mill, for the tenth consecutive increase. The World export HRB price rose 3.2 percent to $718 per ton, FOB the port of export, for the eleventh consecutive increase. The Chinese HRB ex-works price rose 0.2 percent to $574 per ton for the fifth consecutive increase.

The four benchmark prices for hot-rolled band for April 26, 2010 are:

• U.S.—$772 per metric ton ($700 per net ton), FOB the mill—up $24 per ton from $748 ($678 net) two weeks ago, and up $343 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $431 (35.8 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $542 per ton from the record low of $230 ($209 net) in December 2001.
• China—$574 per metric ton, ex-works—up $1 per ton from $573 two weeks ago, and up $183 per ton from the recent low of $391 on April 13, 2009. It is down $159 (21.7 percent) per ton from the record peak of $733 on July 14, 2008 and up $327 per ton from the record low of $247 in January 2002.
• Western Europe—$742 €558) per metric ton, ex-works—up $44 per ton from $698 €513) two weeks ago (on a Euro basis, up €45), and up $289 (up €219) per ton from the recent low of $453 €339) on April 27, 2009. It is down $462 €198) (38.4 percent) per ton from the record peak of $1,204 €756) on July 14, 2008 and up $553 €346) per ton from the record low of $189 (€212) in December 2001.
• World Export Price—$718 per metric ton, FOB the port of export—up $22 per ton versus $696 two weeks ago, and up $324 per ton from the recent low of $394 on May 11, 2009. It is down $395 (35.5 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $543 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.