HRB spot steel price rise continues mixed

SteelBenchmarker™reported that the U.S. hot-rolled band (HRB) spot price for March 26 rose 1.8 percent to $622 per ton, FOB the mill for the fourth consecutive rise. The world export HRB price rose 2.2 percent to $596 per ton, FOB the port of export, for the seventh consecutive rise. The Chinese HRB ex-works price slipped 1.8 percent to $432 per ton, for the second consecutive time. The Western European HRB price rose 2.1 percent to $674 per ton, ex-works, for the eighth time.

The four benchmark prices for hot-rolled band included in the March 26 report are:

• U.S.—$622 per metric ton, FOB the mill—up $11 per ton from $611 two weeks ago but down $76 per ton from the peak of $698 on July 24, 2006.
• World Export Price—$596 per metric ton, FOB the port of export—up $13 per ton from $583 two weeks ago but still down $14 per ton from the peak of $610 on June 12, 2006.
• Western Europe— $674 per metric ton, ex-works—up $14 per ton from $660 two weeks ago and topping by $43 per ton the previous peak of $631 on July 24, 2006.
• China— $432 per metric ton, ex-works—down $8 per ton from $440 two weeks ago and down $32 per ton from the peak of $464 on June 12, 2006.

Twice each month, SteelBenchmarkerpublishes steel benchmark prices for hot-rolled band, cold-rolled coil, rebar, and standard plate in the U.S., Western Europe, mainland China, and the world export market.