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HRB spot steel price rise mixed

SteelBenchmarker™reported that the U.S. hot-rolled band (HRB) spot price for March 12 rose 2.4 percent to $611 per ton, FOB the mill for the third consecutive rise. The world export HRB price jumped 3. 7 percent to $583 per ton, FOB the port of export, for the sixth consecutive rise. The Chinese HRB ex-works price slipped 0.5 percent to $440 per ton. The Western European HRB price soared 5.8 percent to $660 per ton, ex-works, for the seventh time.

The four benchmark prices for hot-rolled band included in the March 12 report are:

  • U.S.—$611 per metric ton, FOB the mill—up $14per ton from $597 two weeks ago but down $87 per ton from the peak of $698 on July 24, 2006.
  • World Export Price—$583 per metric ton, FOB the port of export—up $21 per ton from $562 two weeks ago but still down $27 per ton from the peak of $610 on June 12, 2006.
  • Western Europe— $660 per metric ton, ex-works—up $36 per ton from $624 two weeks ago and topping by $29 per ton the previous peak of $631 on July 24, 2006.
  • China— $440 per metric ton, ex-works—down $2 per ton from $442 two weeks ago and down $24 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.