HRB prices up worldwide

The bi-monthly SteelBenchmarker™ United States HRB spot price for Dec. 13 soared 13.6 percent to $702 per metric ton, FOB the mill, for the second consecutive increase. The World export HRB price rose 4.0 percent to $619 per ton, FOB the port of export, for the second consecutive increase. The Western European HRB price rose 1.6 percent to $679 per ton (on a Euro basis, it rose 2.2 percent), ex-works, after falling three consecutive times. The Chinese HRB ex-works price rose 1.4 percent to $560 per ton after being flat three weeks ago.

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

• U.S.—$702 per metric ton ($637 per net ton), FOB the mill—up $84 per ton from $618 ($560 net) three weeks ago but up $74 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $273 per ton from the recent low of $429 ($390 net) on May 25, 2009 and down $501 (41.6 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$560 per metric ton, ex-works—up $8 per ton from three weeks ago and down $14 per ton from the recent high of $574 on April 26, 2010. It is up $169 per ton from the recent low of $391 on April 13, 2009 but down $173 (23.6 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$679 (€505 per metric ton, ex-works—up $11 per ton from $668 (€494) three weeks ago (on a Euro basis, it was up €11) and down $63 (€79) per ton from the recent high of $742 (€584) on May 10, 2010. It is up $226 (€166) from the recent low of $453 (€339) on April 27, 2009 and down $525 (€251) (43.6 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$619 per metric ton, FOB the port of export—up $24 per ton from $595 three weeks ago and down $99 per ton from the recent high of $718 on April 26, 2010. It is up $225 per ton from the recent low $394 on May 11, 2009 but down $494 (44.4 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.