HRB prices down 1.2% to 5.1% in China, Western Europe, U.S., and World

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for June 28 fell 1.2 percent percent to $511 per ton for the fourth consecutive decrease. The Western European HRB price fell 2.0 percent to $697 per ton (on a Euro basis, it fell 1.6 percent), ex-works, for the third consecutive decline. The United States HRB spot price dropped 2.7 percent to $708 per metric ton, FOB the mill, for the third consecutive decrease. The World export HRB price plunged 5.1 percent to $593 per ton, FOB the port of export, for the fourth consecutive decrease.

The four benchmark prices for hot-rolled band for June 28, 2010 are:

• U.S.—$708 per metric ton ($642 per net ton), FOB the mill—down $20 per ton from $728 ($660 net) two weeks ago, and up $279 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $495 (41.1 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $478 per ton from the record low of $230 ($209 net) in December 2001.
• China—$511 per metric ton, ex-works—down $6 per ton from $517 two weeks ago, and up $120 per ton from the recent low of $391 on April 13, 2009. It is down $222 (30.3 percent) per ton from the record peak of $733 on July 14, 2008 and up $264 per ton from the record low of $247 in January 2002.
• Western Europe—$697 (€571) per metric ton, ex-works—down $14 per ton from $711 (€580) two weeks ago (on a Euro basis, down €9), and up $244 (up €232) per ton from the recent low of $453 €339) on April 27, 2009. It is down $507 €185) (42.1 percent) per ton from the record peak of $1,204 €756) on July 14, 2008 and up $508 €359) per ton from the record low of $189 (€212) in December 2001.
• World Export Price—$593 per metric ton, FOB the port of export—down $32 per ton versus $625 two weeks ago, and up $199 per ton from the recent low of $394 on May 11, 2009. It is down $520 (46.7 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $418 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.