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HRB prices: Down throughout the world

The bi-monthly SteelBenchmarker™ World export HRB price for January 12 declined 1.6 percent to $494 per ton for the sixth consecutive time. The U.S. HRB spot price fell 2.0 percent to $670 per metric ton for the fourth consecutive time. The Chinese HRB price fell 3.2 percent to #392 per ton for the second consecutive time. The Western European HRB price fell 3.2 percent to $487 per ton (on a Euro basis, it stayed flat) for the 10th consecutive time.

In its 211th report, SteelBenchmarker released nine steel products and three U.S. scrap prices. Of these, here are four benchmark prices for hot-rolled band for January 12, 2015:

U.S.—$670 per metric ton ($680 per net ton), FOB the mill—down $14 per ton from $684 ($620 net) three weeks ago, up $33 from the recent low of $637 ($578 net) on May 27, 2013, and up $117 from the low of $553 per ton ($502 net) on Nov. 23, 2009. It is down $300 per ton from the recent high of $970 ($880 net) on Mar. 28, 2011, and down $533 (44.3 percent) from the record peak of $1,203 per ton ($1.091 net) on July 28, 2008.

China—$392 per metric ton, ex-works—down $13 per ton from $405 three weeks ago, down $55 per ton from the recent low of $477 on Sept. 10, 2012, and down $15 per ton from the low of $407 per ton on Oct. 12, 2009. It is down $245 per ton from the recent high of $637 on Aug. 22, 2011, and down $341 (46.5 percent) from the record peak of $733 per ton on July 14, 2008.

Western Europe—$487 (€412℮) per metric ton, ex-works—down $16 per ton from $503 (€412℮) three weeks ago (on a Euro basis, it was flat), down $103 (down €42) from the recent low of $590 (€454) on July 8, 2013, and down $84 (up €31) from the recent low of $571 (€381) per ton on Nov. 23, 2009. It is down $365 (€193) per ton from the recent high of $852 (€605) on Mar. 28, 2011, and down $717 (59.6 percent) (€344; 45.5 percent) from the record peak of $1,204 (&euro756) per ton on July 14, 2008.

World Export Price—$494 per metric ton, FOB the port of export—down $8 per ton from $502 three weeks ago, down $38 per ton from the recent low of $532 on Oct. 8, 2012, and down $2 from the low of $496 per ton on Nov. 9, 2009. It is down $279 per ton from the recent high of $773 on Feb. 14, 2011, and down $619 (55.6 percent) from the record peak of $1,113 per ton on July 28, 2008.

Twice each month, SteelBenchmarker publishes steel benchmark prices for hot-rolled band, cold-rolled coil, rebar and standard plate in the following regions: the United States, Western Europe, the world export market, and China. More information about this report can be found here.