HRB prices down in Western Europe and U.S., up elsewhere

The bi-monthly SteelBenchmarker™ World export HRB price for March 12 rose 1.7 percent to $656 per ton, FOB the port of export, for the second consecutive increase. The Chinese HRB ex-works price increased 0.5 percent to $569 per ton for the fourth consecutive increase. The Western European HRB price decreased 0.6 percent to $696 per ton (on a Euro basis, it rose 2.5 percent), ex-works, after four consecutive increases. The U.S. spot HRB price dropped 2.9 percent to $763 per metric ton, FOB the mill, for the third consecutive increase.

The four benchmark prices for HRB for March 12, 2012 are:

• U.S.—$763 per metric ton ($693 per net ton), FOB the mill—down $23 per ton from $786 ($713 net) two weeks ago, but up $54 per ton from the recent low of $709 ($643 net) on Nov. 14, 2011. It is down $207 per ton from the recent high of $970 ($880 net) on March 28, 2011 and down $440 (36.6 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$569 per metric ton, ex-works—up $3 per ton from $566 two weeks ago and up $87 per ton from the recent low of $482 on July 12, 2010. It is down $68 per ton from the recent high of $637 on August 22, 2011 and down $164 (22.4 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$696 (€533 per metric ton, ex-works—down $4 per ton from $700 (€520) two weeks ago (on a Euro basis, it was down €13), up $29 (up €39) from the recent low of $668 (€494) on Nov. 22, 2010. It is down $156 (€72) from the recent high of $852 (€605) on March 28, 2011 and down $508 (€223) (42.4 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$656 per metric ton, FOB the port of export—up $11 per ton from $645 two weeks ago and up $44 per ton from the recent low of $612 on Nov. 28, 2011. It is down $117 per ton from the recent high of $773 on Feb. 28, 2011 and down $457 (41.1 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.