HRB prices down 1.9% to 5.6% in Western Europe, U.S., World, and China

The bi-monthly SteelBenchmarker™ Western European HRB price for May 24 fell 1.9 percent to $728 per ton (on a Euro basis, it rose 1.9 percent), ex-works, after being flat two weeks ago. The United States HRB spot price was down 2.1 percent to $760 per metric ton, FOB the mill, after 11 consecutive increases. The World export HRB price dropped 4.5 percent to $684 per ton, FOB the port of export, for the second consecutive decrease. The Chinese HRB ex-works price plummeted 5.6 percent to $535 per ton for the second consecutive decrease.

The four benchmark prices for hot-rolled band for May 24, 2010 are:

• U.S.—$760 per metric ton ($690 per net ton), FOB the mill—down $16 per ton from $776 ($704 net) two weeks ago, and up $331 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $443 (36.8 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $530 per ton from the record low of $230 ($209 net) in December 2001.
• China—$535 per metric ton, ex-works—down $32 per ton from $567 two weeks ago, and up $144 per ton from the recent low of $391 on April 13, 2009. It is down $198 (27.0 percent) per ton from the record peak of $733 on July 14, 2008 and up $288 per ton from the record low of $247 in January 2002.
• Western Europe—$728 (€595) per metric ton, ex-works—down $14 per ton from $742 (€584) two weeks ago (on a Euro basis, up €11), and up $275 (up €256) per ton from the recent low of $453 €339) on April 27, 2009. It is down $476 €161) (39.5 percent) per ton from the record peak of $1,204 €756) on July 14, 2008 and up $539 €383) per ton from the record low of $189 (€212) in December 2001.
• World Export Price—$684 per metric ton, FOB the port of export—down $32 per ton versus $716 two weeks ago, and up $290 per ton from the recent low of $394 on May 11, 2009. It is down $329 (38.5 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $509 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.