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HRB prices stumble — World up 1.3 percent; Western Europe flat; U.S. down 1.1 percent; China down 2.2 percent

The bi-monthly SteelBenchmarker™ World export HRB price for September 27 rose 1.3 percent to $623 per ton, FOB the port of export, for the fifth consecutive rise. The Western European HRB price stayed flat at $692 per ton (on a Euro basis, it fell 4.5 percent), exworks, after rising two weeks ago. The United States HRB spot price slipped 1.1 percent to $653 per metric ton, FOB the mill, after two consecutive rises. The Chinese HRB ex-works price fell 2.2 percent to $539 per ton, after rising two weeks ago.

The four benchmark prices for HRB for Sept. 27, 2010 are:

  • U.S.—$653 per metric ton ($592 per net ton), FOB the mill—down $7 per ton from $660 ($599 net) two weeks ago and down $123 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $224 per ton from the recent low of $429 ($390 net) on May 25, 2009, but down $550 (45.7 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
  • China—$539 per metric ton, ex-works—down $12 per ton from $551 two weeks ago and down $35 per ton from the recent high of $574 on April 26, 2010. It is up $148 per ton from the recent low of $391 on April 13, 2009 and down $194 (26.5 percent) from the record peak of $733 on July 14, 2008.
  • Western Europe—$692 (€514 per metric ton, ex-works—no change from $692 weeks ago (€538) two weeks ago (on a Euro basis, it was down €24) and down $50 (€70) per ton from the recent high of $742 (€584) on May 10, 2010. It is up $239 (€175) from the recent low of $453 (€339) on April 27, 2009 and down $512 (€242) (42.5 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
  • World Export Price—$623 per metric ton, FOB the port of export—up $8 per ton from $615 two weeks ago and down $95 per ton from the recent high of $718 on April 26, 2010. It is up $229 per ton from the recent low $394 on May 11, 2009 and down $490 (44.0 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.