HRB prices continue to rise

The bi-monthly SteelBenchmarker™ Western European HRB price for January 24 surged 7.4 percent to $553 per ton (on a Euro basis, it rose 2.2 percent), ex-works, for the fourth consecutive increase. The United States HRB spot price gained 5.7 percent to $851 per metric ton, FOB the mill, for the fifth consecutive increase. The World export HRB price surged 5.7 percent to $705 per ton, FOB the port of export, for the fifth consecutive increase. The Chinese HRB ex-works price rose 3.9 percent to $614 per ton for the fourth consecutive increase.

The four benchmark prices for HRB for Jan. 24, 2011 are:

• U.S.—$851 per metric ton ($772 per net ton), FOB the mill—up $46 per ton from $805 ($730 net) two weeks ago and up $75 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $422 per ton from the recent low of $429 ($390 net) on May 25, 2009 and down $352 (29.3 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$614 per metric ton, ex-works—up $23 per ton from $591 two weeks ago and up $40 per ton from the recent high of $574 on April 26, 2010. It is up $223 per ton from the recent low of $391 on April 13, 2009, but down $119 (16.2 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$753 (€553 per metric ton, ex-works—up $52 per ton from $701 (€541) two weeks ago (on a Euro basis, it was up €12) and up $11 (down €31) per ton from the recent high of $742 (€584) on May 10, 2010. It is up $300 (€214) from the recent low of $453 (€339) on April 27, 2009 and down $451 (€203) (37.5 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$705 per metric ton, FOB the port of export—up $38 per ton from $667 two weeks ago and down $13 per ton from the recent high of $718 on April 26, 2010. It is up $311 per ton from the recent low $394 on May 11, 2009, but down $408 (36.7 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.