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HRB spot steel prices move up dramatically

SteelBenchmarker™reported that the U.S. hot-rolled band (HRB) spot price for Feb. 26 jumped 2.9 percent to $597 per ton, FOB the mill for the second consecutive rise. The world export HRB price soared 5.0 percent to $562 per ton, FOB the port of export, for the fifth consecutive rise. The Chinese HRB ex-works price rose 1.1 percent to $442 per ton, for the sixth time. The Western European HRB price rose 1.8 percent to $624 per ton, ex-works, also for the sixth time.

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

  • U.S.—$597 per metric ton, FOB the mill—up $17per ton from $580 two weeks ago but down $101 per ton from the peak of $698 on July 24, 2006.
  • World Export Price—$562 per metric ton, FOB the port of export—up $27 per ton from $535 two weeks ago but still down $48 per ton from the peak of $610 on June 12, 2006.
  • Western Europe— $624 per metric ton, ex-works—up $11 per ton from $613 two weeks ago but still down $7 per ton from the peak of $631 on July 24, 2006. Note: SteelBenchmarker believes the Western Europe price is more representative of the Southern European Market.
  • China— $442 per metric ton, ex-works—up $5 per ton from $437 two weeks ago but still down $22 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.