HRB prices up 1.3 to 5.8 percent

The bi-monthly SteelBenchmarker™ Chinese hot-rolled band (HRB) ex-works price for Sept. 13 surged 5.8 percent to $551 per ton, after declining three weeks ago. The U.S. HRB spot price rose 3.1 percent to $660 per metric ton, FOB the mill for the second consecutive rise. The world export HRB price rose 1.8 percent to $615 per ton, FOB the port of export, for the fourth consecutive increase. The Western European HRB price rose 1.3 percent to $692 per ton (on a Euro basis, it slipped 0.4 percent), ex-works, after declining three weeks ago.

The four benchmark prices for HRB for Sept. 13, 2010 are:

• U.S.—$660 per metric ton ($599 per net ton), FOB the mill—up $20 per ton from $640 ($581 net) three weeks ago, and down $116 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $231 per ton from the recent low of $429 ($390 net) on May 25, 2009, but down $553 (45.1 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$551 per metric ton, ex-works—up $30 per ton from $521 three weeks ago and down $23 per ton from the recent high of $574 on April 26, 2010. It is up $160 per ton from the recent low of $391 on April 13, 2009, but down $182 (24.8 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$692 (€538 per metric ton, ex-works—up $9 per ton from $683 (€541) three weeks ago (on a Euro basis, it was down €3) and down $50 (€46) per ton from the recent high of $742 (€584) on May 10, 2010. It is up $239 (€199) from the recent low of $453 (€339) on April 27, 2009 and down $512 (€218) (42.5 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$615 per metric ton, FOB the port of export—up $11 per ton versus $604 three weeks ago and down $103 per ton from the recent high of $718 on April 26, 2010. It is up $221 per ton from the recent low $394 on May 11, 2009 and down $498 (44.7 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.