HRB prices on an uptrend

The bi-monthly SteelBenchmarker™ Western European HRB price for January 23 rose 2.6 percent to $662 per ton (on a Euro basis, it rose 1.2 percent), ex-works, for the second consecutive rise. The World export HRB price rose 2.2 percent to $643 per ton, FOB the port of export, for the fourth consecutive increase. The U.S. spot HRB price rose 1.7 percent to $816 per ton, FOB the mill, for the fifth consecutive increase. The Chinese HRB ex-works price increased 0.4 percent to $560 per ton after falling the previous reporting time.

The four benchmark prices for HRB for January 23, 2012 are:

• U.S.—$816 per metric ton ($740 per net ton), FOB the mill—up $14 per ton from $802 ($728 net) two weeks ago and up $107 per ton from the recent low of $709 ($643 net) on Nov. 14, 2011. It is down $154 per ton from the recent high of $970 ($880 net) on March 28, 2011 and down $487 (32.2 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$560 per metric ton, ex-works—up $2 per ton from $558 two weeks ago and up $78 per ton from the recent low of $482 on July 12, 2010. It is down $77 per ton from the recent high of $637 on August 22, 2011 and down $173 (23.6 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$662 (€509 per metric ton, ex-works—up $17 per ton from $645 (€503) two weeks ago (on a Euro basis, it was up €6), but down $6 (€15) from the recent low of $668 (€494) on Nov. 22, 2010. It is down $190 (€96) from the recent high of $852 (€605) on March 28, 2011 and down $542 (€247) (45.0 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$643 per metric ton, FOB the port of export—up $14 per ton from $629 two weeks ago and up $31 per ton from the recent low of $612 on Nov. 28, 2011. It is down $130 per ton from the recent high of $773 on Feb. 28, 2011 and down $470 (42.2 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.