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HRB prices rebound worldwide

The bi-monthly SteelBenchmarker™ United States HRB spot price for July 13 surged 8.7 percent to $501 per metric ton, FOB the mill, for the third consecutive increase. The World export HRB price surged 7.8 percent to $481 per ton, FOB the port of export, for the fourth consecutive rise. The Western European HRB price rose 3.7 percent to $509 (on a Euro basis, it rose 3.4 percent), ex-works, for the second consecutive rise. The Chinese HRB ex-works price rose 3.4 percent to $462 per ton, for the sixth consecutive increase.

The four benchmark prices for hot-rolled band for July 13, 2009 are:

  • U.S.—$501 per metric ton ($455 per net ton), FOB the mill—up $40 per ton from $461 ($418 net) three weeks ago, and up $72 (64 percent) per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $702 (58.4 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $271 per ton from the record low of $230 ($209 net) in December 2001.
  • China—$462 per metric ton, ex-works—up $15 per ton from the recent low of #391 on April 13, 2009. It is down $271 (37.0 percent) per ton from the record peak of $733 on July 14, 2008 and up $215 per ton from the record low of $247 in January 2002.
  • Western Europe—$509 (€363) per metric ton, ex-works—up $18 per ton from $491 (€351) three weeks ago (on a Euro basis, up €12), and up $56 (€24) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $695 (€393) (57.7 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $320 (€151) per ton from the record low of $189 (€212) in December 2001.
  • World Export Price—$481 per metric ton, FOB the port of export—up $35 per ton versus $446 three weeks ago, and up $87 per ton from the recent low of $394 on May 11, 2009. It is down $632 (56.8 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $306 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.