HRB prices fall 2.3% to 8.6% in Western Europe, China, U.S., and World

The bi-monthly SteelBenchmarker™ Western European HRB price for June 14 fell 2.3 percent to $711 per ton (on a Euro basis, it fell 2.5 percent), ex-works, for the second consecutive decline. The Chinese HRB ex-works price dropped 3.2 percent percent to $517 per ton for the third consecutive decrease. The United States HRB spot price dropped 4.2 percent to $728 per metric ton, FOB the mill, for the second consecutive decrease. The World export HRB price plunged 8.6 percent to $625 per ton, FOB the port of export, for the third consecutive decrease.

The four benchmark prices for hot-rolled band for June 14, 2010 are:

• U.S.—$728 per metric ton ($660 per net ton), FOB the mill—down $32 per ton from $760 ($690 net) three weeks ago, and up $299 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $475 (39.5 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $498 per ton from the record low of $230 ($209 net) in December 2001.
• China—$517 per metric ton, ex-works—down $18 per ton from $535 three weeks ago, and up $126 per ton from the recent low of $391 on April 13, 2009. It is down $216 (29.5 percent) per ton from the record peak of $733 on July 14, 2008 and up $270 per ton from the record low of $247 in January 2002.
• Western Europe—$711 (€580) per metric ton, ex-works—down $17 per ton from $728 (€595) three weeks ago (on a Euro basis, down €15), and up $258 (up €241) per ton from the recent low of $453 €339) on April 27, 2009. It is down $493 €176) (40.9 percent) per ton from the record peak of $1,204 €756) on July 14, 2008 and up $522 €368) per ton from the record low of $189 (€212) in December 2001.
• World Export Price—$625 per metric ton, FOB the port of export—down $59 per ton versus $684 three weeks ago, and up $231 per ton from the recent low of $394 on May 11, 2009. It is down $488 (43.8 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $450 per ton from the record low of $175 in December 2001.

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.