HRB prices down worldwide

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for May 23 slipped 0.3 percent to $634 per ton after rising four consecutive times. The World export HRB price slipped 0.5 percent to $728 per ton, FOB the port of export, after rising two weeks ago. The Western European HRB price fell 2.0 percent to $815 per ton (on a Euro basis, it rose 3.0 percent), ex-works, after rising two weeks ago. The United States HRB spot price fell 4.3 percent to $877 per metric ton, FOB the mill, for the fourth consecutive decline.

The four benchmark prices for HRB for May 23, 2011 are:

• U.S.—$877 per metric ton ($796 per net ton), FOB the mill—down $39 per ton from $916 ($831 net) two weeks ago but up $276 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $101 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $326 (27.1 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$634 per metric ton, ex-works—down $2 per ton from $636 two weeks ago but up $152 per ton from the recent low of $482 on July 12, 2010. It is up $60 per ton from the previous high of $574 on April 26, 2010, but down $99 (13.5 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$815 (€578 per metric ton, ex-works—down $17 per ton from $832 (€561) two weeks ago (on a Euro basis, it was up €17) and up $147 (€84) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $73 (down €6) from the previous high of $742 (€584) on May 10, 2010 and down $389 (€178) (32.3 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$728 per metric ton, FOB the port of export—down $4 per ton from $732 two weeks ago but up $144 per ton from the recent low of $584 on July 12, 2010. It is up $10 per ton from the previous high of $718 on April 26, 2010, but down $385 (34.6 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.