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HRB prices up—Markets converge

The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for July 27 surged 6.5 percent to $492 per ton for the seventh consecutive increase. The World export HRB price rose 5.4 percent to $507 per ton, FOB the port of export, for the fifth consecutive rise. The United States HRB spot price rose 4.2 percnet to $522 per metric ton, FOB the mill, for the fourth consecutive increase. The Western European HRB price rose 3.7 percent to $528 (on a Euro basis, it rose 2.2 percent), ex-works, for the third consecutive rise.

The four benchmark prices for hot-rolled band for July 27, 2009 are:

  • U.S.—$522 per metric ton ($474 per net ton), FOB the mill—up $21 per ton from $501 ($455 net) two weeks ago, and up $93 per ton from recent low of $429 ($390 net) on May 25, 2009. It is down $681 (56.6 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008 and up $292 per ton from the record low of $230 ($209 net) in December 2001.
  • China—$492 per metric ton, ex-works—up $30 per ton from $462 two weeks ago and up $101 per ton from the recent low of $391 on April 13, 2009. It is down $241 (32.9 percent) per ton from the record peak of $733 on July 14, 2008 and up $245 per ton from the record low of $247 in January 2002.
  • Western Europe—$528 (€371) per metric ton, ex-works—up $19 per ton from $509 (€363) two weeks ago (on a Euro basis, up €8), and up $75 (€32) per ton from the recent low of $453 (€339) on April 27, 2009. It is down $676 (€385) (56.1 percent) per ton from the record peak of $1,204 (€756) on July 14, 2008 and up $339 (€159) per ton from the record low of $189 (€212) in December 2001.
  • World Export Price—$507 per metric ton, FOB the port of export—up $26 per ton versus $481 two weeks ago, and up $113 per ton from the recent low of $394 on May 11, 2009. It is down $606 (54.4 percent) per ton from the record peak of $1,113 on July 28, 2008 and up $332 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.