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HRB spot steel prices turning up?

SteelBenchmarker™reported that the U.S. hot-rolled band (HRB) spot price for Aug. 13 fell 1.6 percent to $560 per metric ton, FOB the mill for the eighth consecutive time. The world export HRB price rose 1.3 percent to $557 per ton, FOB the port of export after falling eight consecutive times. The Chinese HRB ex-works price surged 4.4 percent to $428 per ton for the second consecutive rise. The Western European HRB price stayed flat on a dollar basis at $663 per ton, ex-works, after falling three consecutive times, but on a euro basis, it was up 1.9 percent.

The four benchmark prices for hot-rolled band included in the August 13 report are:

  • U.S.—$560 per metric ton ($508 per net ton), FOB the mill—down $9 per ton from $596 ($516 nt) two weeks ago and down $70 per ton from the recent high of $630 on April 9, 2007, and $11 per ton below the recent low of $571 ($518 nt) on Jan. 22, 2007.
  • World Export Price—$557 per metric ton, FOB the port of export—up $7 per ton from $550 two weeks ago but down $39 per ton from the recent high of $596 on March 26, 2007, and up $58 per ton from the previous low of $499 on Dec. 11, 2006.
  • Western Europe— $663 (€488) per metric ton, ex-works—flat on a dollar basis but up €9 from $663 (€479) two weeks ago and down $33 per ton from the recent high of $696 (€522) on June 11, 2007, but up $107 per ton from the low of $556 (€422) on Nov. 27, 2006.
  • China— $428 per metric ton, ex-works—up $18 per ton from $410 two weeks ago and down $29 per ton from the recent high of $457 on May 14, 2007, but up $55 per ton from the low of $373 on July 24, 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.