HRB prices rudderless; World and U.S. prices up, Western Europe and China prices down

The bi-monthly SteelBenchmarker™ world export HRB price for August 23 rose 1.5 percent to $604 per ton, FOB the port of export, for the third consecutive time. The U.S. HRB spot price rose 0,9 percent to $640 per metric ton, FOB the mill after six consecutive declines. The Western European HRB price slipped 1.0 percent to $683 per ton (on a Euro basis, it rose 3.0 percent), ex-works, after two consecutive increases. The Chinese HRB ex-works price slipped 1.1 percent to $521 per ton, after two consecutive increases.

The four benchmark prices for hot-rolled band for Aug. 23, 2010 are:

• U.S.—$640 per metric ton ($581 per net ton), FOB the mill—up $6 per ton from $634 ($575 net) two weeks ago, and down $136 per ton from the recent high of $776 ($704 net) on May 10, 2010. It is up $211 per ton from the recent low of $429 ($390 net) on May 25, 2009 and down $563 (46.8 percent) per ton from the record peak of $1,203 ($1,091 net) on July 28, 2008.
• China—$521 per metric ton, ex-works—down $6 per ton from $527 two weeks ago, and down $53 per ton from the recent high of $574 on April 26, 2010. It is up $130 per ton from the recent low of $391 on April 13, 2009 and down $212 (28.9 percent) from the record peak of $733 on July 14, 2008.
• Western Europe—$683 (€541 per metric ton, ex-works—down $7 per ton from $690 (€525) two weeks ago (on a Euro basis, it was up &eruo;16), down $59 (&eruo;43) per ton from the recent high of $742 (&eruo;584) on May 10, 2010. It is up $230 (€202) from the recent low of $453 (€339) on April 27, 2009 and down $521 (€215) (43.3 percent) per ton from the record peak of $1,204 €756) on July 14, 2008.
• World Export Price—$604 per metric ton, FOB the port of export—up $9 per ton versus $595 two weeks ago, and down $114 per ton from the recent high of $718 on April 26, 2010. It is up $210 per ton from the recent low $394 on May 11, 2009 and down $509 (45.7 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.