HRB prices down 5.5 percent in U.S., up elsewhere

The bi-monthly SteelBenchmarker™ United States HRB spot price for July 26 fell 5.5 percent to $637 per metric ton, FOB the mill, for the fifth consecutive decrease. The Western European HRB price was up 0.4 percent to $678 per ton (on a Euro basis, it fell 3.2 percent), ex-works, after four consecutive declines. The World export HRB price increased 0.7 percent to $588 per ton, FOB the port of export, after five consecutive declines. The Chinese HRB ex-works price surged 6.8 percent to $515 per ton after five consecutive declines.

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

• U.S.—$637 per metric ton ($578 per net ton), FOB the mill—down $37 per ton from $674 ($611 net) two weeks ago, and down $139 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $208 (41.1 percent) per ton from the recent low of $429 ($390 net) on May 25, 2009 and down $566 (47.0%) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$515 per metric ton, ex-works—up $33 per ton from $482 two weeks ago, and down $59 per ton from the recent high of $574 on April 26, 2010. It is up $124 per ton from the recent low of $391 on April 13, 2009 and down $218 from the record peak of $733 on July 14, 2008.
• Western Europe—$678 (€520) per metric ton, ex-works—up $3 per ton from $675 (€537) two weeks ago (on a Euro basis, it was down €17), down $64 (€64) per ton from the recent high of $742 (€584) on May 10, 2010. It is up $225 (€181) from the recent low of $453 (€339) on April 27, 2009 and down $526 (€236) (43.7 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$588 per metric ton, FOB the port of export—up $4 per ton versus $584 two weeks ago, and down $130 per ton from the recent high of $718 on April 26, 2010. It is up $194 per ton from the recent low $394 on May 11, 2009 and down $525 (47.2 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.