HRB prices down in U.S., up elsewhere

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for May 9 rose 0.5 percent to $636 per ton for the fourth consecutive increase. The Western European HRB price rose 0.2 percent to $832 per ton (on a Euro basis, it fell 1.1 percent), ex-works, after falling two consecutive times. The World export HRB price rose 0.1 percent to $732 per ton, FOB the port of export, after two consecutive declines. The United States HRB spot price fell 3.7 percent to $916 per metric ton, FOB the mill, for the third consecutive decline.

The four benchmark prices for HRB for May 9, 2011 are:

• U.S.—$916 per metric ton ($831 per net ton), FOB the mill—down $35 per ton from $951 ($863 net) two weeks ago but up $315 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $140 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $287 (23.9 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$636 per metric ton, ex-works—up $3 per ton from $633 two weeks ago and up $154 per ton from the recent low of $482 on July 12, 2010. It is up $62 per ton from the previous high of $574 on April 26, 2010, but down $197 (13.2 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$832 (€561 per metric ton, ex-works—up $2 per ton from $830 (€567) two weeks ago (on a Euro basis, it was down €6) and up $164 (€67) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $90 (down €23) from the previous high of $742 (€584) on May 10, 2010 and down $372 (€195) (30.9 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$732 per metric ton, FOB the port of export—up $1 per ton from $731 two weeks ago and up $148 per ton from the recent low of $584 on July 12, 2010. It is up $14 per ton from the previous high of $718 on April 26, 2010, but down $381 (34.2 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.