HRB prices keep pushing ahead

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for March 28 rose 2.2 percent to $606 per ton after declining two consecutive times. The Western European HRB price rose 1.7 percent to $852 per ton (on a Euro basis, it rose 0.3 percent), ex-works, for the eighth consecutive increase. The United States HRB spot price rose 1.3 percent to $970 per metric ton, FOB the mill, for the ninth consecutive increase. The World export HRB price slipped 0.3 percent to $769 per ton, FOB the port of export, for the third consecutive decrease.

The four benchmark prices for HRB for March 28, 2011 are:

• U.S.—$970 per metric ton ($880 per net ton), FOB the mill—up $12 per ton from $958 ($869 net) two weeks ago and up $369 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $194 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $233 (19.4 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$606 per metric ton, ex-works—up $13 per ton from $593 two weeks ago and up $124 per ton from the recent low of $482 on July 12, 2010. It is up $32 per ton from the previous high of $574 on April 26, 2010, but down $127 (17.3 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$852 (€605 per metric ton, ex-works—up $14 per ton from $838 (€603) two weeks ago (on a Euro basis, it was up €2) and up $184 (€111) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $110 (€21) from the previous high of $742 (€584) on May 10, 2010 and down $352 (€151) (29.2 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$769 per metric ton, FOB the port of export—down $2 per ton from $771 two weeks ago and up $185 per ton from the recent low of $584 on July 12, 2010. It is up $51 per ton from the previous high of $718 on April 26, 2010, but down $344 (30.9 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.