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HRB prices rebound

The bi-monthly SteelBenchmarker™ World export HRB price for Aug. 10 surged 6.9 percent to $542 per ton, FOB the port of export for the sixth consecutive rise. The United States HRB spot price surged 5.9 percent to $553 per metric ton, FOB the mill, for the fifth consecutive increase. The Western European HRB price rose 4.5 percent to $552 (on a Euro basis, it rose 4.9 percent), ex-works, for the fourth consecutive rise. The Chinese HRB ex-works price rose 3.3 percent to $508 per ton for the eighth consecutive increase.

The four benchmark prices for hot-rolled band for Aug. 10, 2009 are:

  • U.S.—$553 per metric ton ($502 per net ton), FOB the mill—up $31 per ton from $522 ($474 net) two weeks ago, and up $124 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $650 (54.0 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $323 per ton from the record low of $230 ($209 net) in December 2001.
  • China—$508 per metric ton, ex-works—up $16 per ton from $492 two weeks ago and up $117 per ton from the recent low of $391 on April 13, 2009. It is down $225 (30.7 percent) per ton from the record peak of $733 on July 14, 2008 and up $261 per ton from the record low of $247 in January 2002.
  • Western Europe—$552 (€389) per metric ton, ex-works—up $24 per ton from $528 (€371) two weeks ago (on a Euro basis, up €18), and up $99 (€50) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $652 (€367) (54.2 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $363 (€177) per ton from the record low of $189 (€212) in December 2001.
  • World Export Price—$542 per metric ton, FOB the port of export—up $35 per ton versus $507 two weeks ago, and up $148 per ton from the recent low of $394 on May 11, 2009. It is down $571 (51.3 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $367 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.