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HRB prices rise

The bi-monthly SteelBenchmarker™ United States HRB spot price for March 8 surged 5.4 percent to $706 per metric ton, FOB the mill, for the seventh consecutive rise. The Western European HRB price surged 4.2 percent to $625 per ton (on a Euro basis, it was up 4.5 percent) for the second consecutive rise. The Chinese HRB ex-works price rose 2.5 percent to $485 per ton for the second consecutive increase. The World export HRB price rose 1.8 percent to $607 per ton, FOB the port of export, for the eighth consecutive increase.

The four benchmark prices for hot-rolled band for March 8, 2010 are:

  • U.S.—$706 per metric ton ($640 per net ton), FOB the mill—up $36 per ton from $670 ($608 net) two weeks ago, and up $277 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $497 (41.3 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $476 per ton from the record low of $230 ($209 net) in December 2001.
  • China—$485 per metric ton, ex-works—up $12 per ton from $473 two weeks ago, and up $94 per ton from the recent low of $391 on April 13, 2009. It is down $248 (37.7 percent) per ton from the record peak of $733 on July 14, 2008 and up $238 per ton from the record low of $247 in January 2002.
  • Western Europe—$625 €461) per metric ton, ex-works—up $25 per ton from $600 €441) two weeks ago (on a Euro basis, up €20), and up $172 (up €122) per ton from the recent low of $453 €339) on April 27, 2009. It is down $579 €295) (48.1 percent) per ton from the record peak of $1,204 €756) on July 14, 2008 and up $436 €249) per ton from the record low of $189 (€212) in December 2001.
  • World Export Price—$607 per metric ton, FOB the port of export—up $11 per ton versus $596 two weeks ago, and up $213 per ton from the recent low of $394 on May 11, 2009. It is down $506 (45.5 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $432 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.