HRB downward price trend slowing

The bi-monthly SteelBenchmarker™ World export HRB price for June 13 rose 1.4 percent to $738 per ton, FOB the port of export, after falling three weeks ago. The Western European HRB price slipped 0.1 percent to $814 per ton (on a Euro basis, it fell 3.6 percent), ex-works, for the second consecutive decline. The Chinese HRB ex-works price slipped 0.5 percent to $631 per ton for the second consecutive decline. The United States HRB spot price fell 3.2 percent to $849 per metric ton, FOB the mill, for the fifth consecutive decline.

The four benchmark prices for HRB for June 13, 2011 are:

• U.S.—$849 per metric ton ($771 per net ton), FOB the mill—down $28 per ton from $877 ($796 net) three weeks ago but up $248 per ton from the recent low of $601 ($545 net) on Nov. 8, 2010. It is up $73 per ton from the previous high of $776 ($704 net) on May 10, 2010 and down $345 (29.4 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$631 per metric ton, ex-works—down $3 per ton from $634 three weeks ago but up $149 per ton from the recent low of $482 on July 12, 2010. It is up $57 per ton from the previous high of $574 on April 26, 2010, but down $102 (13.9 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$814 (€557 per metric ton, ex-works—down $1 per ton from $815 (€578) three weeks ago (on a Euro basis, it was up €21) but up $146 (€63) per ton from the recent low of $668 (€494) on Nov. 22, 2010. It is up $72 (down €27) from the previous high of $742 (€584) on May 10, 2010 and down $390 (€199) (32.4 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$738 per metric ton, FOB the port of export—up $10 per ton from $728 three weeks ago and up $154 per ton from the recent low of $584 on July 12, 2010. It is up $20 per ton from the previous high of $718 on April 26, 2010, but down $375 (33.7 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.