HRB prices drop 4 to 12 percent

October 30, 2008

The SteelBenchmarker™world export HRB price for Oct. 27 dropped 12.1 percent to $702 per ton, FOB the port of export for the sixth consecutive decline. The Chinese HRB ex-works price dropped 10.9 percent to $408 per ton for the third consecutive drop. The U.S. HRB spot price dropped 9.7 percent to $886 per metric ton, FOB the mill, for the sixth consecutive decline. The Western European HRB price dropped 7.4 percent to $852 per ton, ex-works, for the seventh consecutive drop (on a Euro basis, it rose 1.3 percent).

The four benchmark prices for HRB for Oct. 27, 2008 are:

  • U.S.—$886 per metric ton ($803 per net ton), FOB the mill—down $95 per ton from $981 ($890 net) two weeks ago and down $317 per ton from the peak of $1,203 ($1,091 net) on July 28, 2008; up $256 per ton from the previous high of $630 ($571 net) on April 9, 2007, and up $326 per ton from the recent low of $560 ($508 net) on Aug. 13, 2007.
  • World Export Price—$702 per metric ton, FOB the port of export—down $97 per ton from $799 two weeks ago; down $411 per ton from the peak of $1,113 on July 28, 2008, but up $106 per ton from the previous high of $596 on March 26, 2007, and up $152 per ton from the recent low of $550 on July 23, 2007.
  • Western Europe— $852 (€682) per metric ton, ex-works—down $68 per ton from $920 (€673) two weeks ago (on a Euro basis, it was up €9); down $352 (€74) per ton from the peak of $1,204 (€756) on July 14, 2008, but up $156 (€160) per ton from the previous high of $696 (€522) on June 11, 2007, and up $189 (€203) from the recent low of $663 (€479) on July 23, 2007.
  • China— $408 per metric ton, ex-works—down $50 per ton from $458 two weeks ago and down $325 per ton from the peak of $733 on July 14, 2008; down $79 per ton from the previous high of $487 on Sept. 10, 2007, and down $62 per ton from the recent low of $470 on Oct. 22, 2007 (the previous low was $402 on July 9, 2007.

Twice each month, SteelBenchmarkerpublishes steel benchmark prices for hot-rolled band, cold-rolled coil, rebar, and standard plate in the U.S., Western Europe, mainland China, and the world export market.



More in Metals/Materials from TheFabricator.com

comments powered by Disqus