HRB prices consolidate gains

The bi-monthly SteelBenchmarker™ U.S. spot HRB price for January 9 rose 3.6 percent to $802 per ton, FOB the mill, for the fourth consecutive increase. The World export HRB price rose 1.6 percent to $629 per ton, FOB the port of export, for the third consecutive time. The Western European HRB price rose 1.6 percent to $645 per ton (on a Euro basis, it rose 4.6 percent), ex-works, after falling six consecutive times. The Chinese HRB ex-works price slipped 0.7 percent to $558 per ton after rising two consecutive times.

The four benchmark prices for HRB for January 9, 2012 are:

• U.S.—$802 per metric ton ($728 per net ton), FOB the mill—up $28 per ton from $774 ($702 net) two weeks ago and up $201 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is down $168 per ton from the recent high of $970 ($880 net) on March 28, 2011 and down $401 (33.3 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$558 per metric ton, ex-works—down $4 per ton from $562 two weeks ago but up $76 per ton from the recent low of $482 on July 12, 2010. It is down $79 per ton from the recent high of $637 on August 22, 2011 and down $175 (23.9 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$645 (€503 per metric ton, ex-works—up $10 per ton from $635 (€481) two weeks ago (on a Euro basis, it was up €22), but down $23 (€9) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is down $207 (€102) from the recent high of $852 (€605) on March 28, 2011 and down $559 (€253) (46.4 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$629 per metric ton, FOB the port of export—up $10 per ton from $619 two weeks ago and up $36 per ton from the recent low of $593 on Nov. 8, 2010. It is down $144 per ton from the recent high of $773 on Feb. 28, 2011 and down $484 (43.5 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.