SteelBenchmarker: China HRB Price Bottoms?
12/11/2014 - In its 209th report, the SteelBenchmarker released 9 steel products and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 8 December 2014.
The bi-monthly SteelBenchmarker™ Chinese HRB price for 8 December 2014 increased 0.7% to US$410 per metric ton after declining seven consecutive times. The Western European HRB price declined 0.8% to US$511 per metric ton (on a Euro basis, it was flat) for the eighth consecutive time. The United States HRB spot price declined 1.0% to US$706 per metric ton for the second consecutive time. The World export HRB price fell 1.6% to US$504 per metric ton for the fourth consecutive time.
USA – US$706 per metric ton (US$640 per ton), FOB the mill – down US$7 per metric ton from US$713 (US$647 ton) two weeks ago, up US$69 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$153 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$264 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$497 (41.3%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$410 per metric ton, ex-works – up US$3 per metric ton from US$407 two weeks ago, down US$37 per metric ton from the recent low of US$447 on 10 September 2012 and up US$3 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$227 per metric ton from the recent high of US$637 on 22 August 2011 and down US$323 (44.1%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$511 (€415e) per metric ton, ex-works – down US$4 per metric ton from US$515 (€415e) two weeks ago (on a Euro basis, it was flat), down US$79 (down €39) from the recent low of US$590 (€454) on 8 July 2013 and down US$60 (up €34) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$341 (€190) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$693 (57.6%) (€341) (45.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$504 per metric ton, FOB the port of export – down US$8 per metric ton from US$512 two weeks ago, down US$28 per metric ton from the recent low of US$532 on 8 October 2012 and up US$8 from the low of US$496 per metric ton on 9 November 2009. It is down US$269 per metric ton from the recent high of US$773 on 14 February 2011 and down US$609 (54.7%) from the record peak of US$1,113 per metric ton on 28 July 2008.
USA – US$706 per metric ton (US$640 per ton), FOB the mill – down US$7 per metric ton from US$713 (US$647 ton) two weeks ago, up US$69 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$153 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$264 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$497 (41.3%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$410 per metric ton, ex-works – up US$3 per metric ton from US$407 two weeks ago, down US$37 per metric ton from the recent low of US$447 on 10 September 2012 and up US$3 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$227 per metric ton from the recent high of US$637 on 22 August 2011 and down US$323 (44.1%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$511 (€415e) per metric ton, ex-works – down US$4 per metric ton from US$515 (€415e) two weeks ago (on a Euro basis, it was flat), down US$79 (down €39) from the recent low of US$590 (€454) on 8 July 2013 and down US$60 (up €34) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$341 (€190) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$693 (57.6%) (€341) (45.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$504 per metric ton, FOB the port of export – down US$8 per metric ton from US$512 two weeks ago, down US$28 per metric ton from the recent low of US$532 on 8 October 2012 and up US$8 from the low of US$496 per metric ton on 9 November 2009. It is down US$269 per metric ton from the recent high of US$773 on 14 February 2011 and down US$609 (54.7%) from the record peak of US$1,113 per metric ton on 28 July 2008.
