Steel Benchmarker™: U.S. Hot Rolled Band Prices Remain Weak
01/16/2013 - In its one hundred sixty third report, the SteelBenchmarker™ released 11 steel product and three U.S. scrap prices, showing increasing hot rolled band prices in China, western Europe and world export pricing but decreasing U.S. prices.
The bi-monthly SteelBenchmarker™ Chinese HRB ex-works price for 14 January surged 3.8% to $545 per tonne, for the second consecutive time. The Western European HRB price rose 1.6% to $638 per tonne (on a Euro basis, it increased 0.6%), ex-works, for the fourth consecutive time. The World export HRB price rose 1.8% to $563 per tonne, FOB the port of export, after being flat last time. The U.S. HRB spot price fell 1.9% to $689 per metric tonne, FOB the mill, for the second consecutive time.
In its one hundred sixty third report, the SteelBenchmarker™ released 11 steel product and three U.S. scrap prices. Of these, here are four benchmark prices for hot-rolled band for 14 January 2013:
USA – $689 per metric tonne ($625 per ton), FOB the mill – down $13 per tonne from $702 ($636 ton) three weeks ago, up $20 per tonne from the recent low of $669 ($607 ton) on 9 July 2012, and down $127 per tonne from the recent high of $816 ($740 ton) on 23 January 2012. It is down $514 (42.7%) per tonne from the record peak of $1,203 ($1,091 ton) on 28 July 2008.
China – $545 per metric tonne, ex-works – up $20 per tonne from $525 three weeks ago, up $138 per tonne from the previous low of $407 on 12 October 2009, and down $92 per tonne from the recent high of $637 on 22 August 2011. It is down $188 (25.6%) from the record peak of $733 on 14 July 2008.
Western Europe – $638 (€478) per metric tonne, ex-works – up $10 per tonne from $628 (€475) per tonne three weeks ago (on a Euro basis, it was up €3), up $67 (up €97) from the previous low of $571 (€381) on Nov. 23, 2009, and down $62 (€42) per tonne from the recent high of $700 (€520) on 27 February 2012. It is down $566 (€278) (47.0%) from the record peak of $1,204 (€756) on 14 July 2008.
World Export Price – $563 per metric tonne, FOB the port of export – up $10 per tonne from $553 three weeks ago, up $67 per tonne from the previous low of $496 on 9 November 2009, and down $93 per tonne from the recent high of $656 on 12 March 2012. It is down $550 (49.4%) per tonne from the record peak of $1,113 on 28 July 2008.
Twice each month, 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.
SteelHome's average price for each product is the determinant of the Chinese ex-works benchmark price. It is published for comparative purposes.
SteelBenchmarker™ is designed to serve those in the steel business as the definitive and authoritative steel price benchmarking system based on inputs from a wide and well-balanced cross section of steel producers, buyers, sellers, users, steel service centers and traders.
