HRB prices rise in U.S. and Western Europe, fall elsewhere

The bi-monthly SteelBenchmarker™ United States HRB spot price for March 14 rose 2.8 percent to $958 per metric ton, FOB the mill, for the eighth consecutive increase. The Western European HRB price rose 2.8 percent to $838 per ton (on a Euro basis, it rose 2.2 percent), ex-works, for the seventh consecutive increase. The World export HRB price slipped 0.1 percent to $771 per ton, FOB the port of export, for the second consecutive decrease. The Chinese HRB ex-works price fell 3.4 percent to $593 per ton for the second consecutive decrease.

The four benchmark prices for HRB for March 14, 2011 are:

• U.S.—$958 per metric ton ($869 per net ton), FOB the mill—up $26 per ton from $932 ($845 net) two weeks ago and up $357 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $182 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $245 (20.4 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$593 per metric ton, ex-works—down $21 per ton from $614 two weeks ago but up $111 per ton from the recent low of $482 on July 12, 2010. It is up $19 per ton from the previous high of $574 on April 26, 2010, but down $140 (19.1 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$838 (€603 per metric ton, ex-works—up $23 per ton from $815 (€590) two weeks ago (on a Euro basis, it was up €13) and up $96 (€19) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $96 (€19) from the previous high of $742 (€584) on May 10, 2010 and down $366 (€153) (30.4 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$771 per metric ton, FOB the port of export—down $1 per ton from $772 two weeks ago and up $187 per ton from the recent low of $584 on July 12, 2010. It is up $53 per ton from the previous high of $718 on April 26, 2010, but down $342 (30.7 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.