SteelBenchmarker: HRB Price Bifurcation Intensifies
11/18/2014 - In its 207th report, the SteelBenchmarker released nine steel products and three USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 10 November 2014:
The bi-monthly SteelBenchmarker™ United States HRB spot price for 10 November 2014 increased 0.4% to US$723 per metric ton after falling five consecutive times. The Chinese HRB price declined 0.7% to US$410 per metric ton for the sixth consecutive time. The World export HRB price fell 1.5% to US$524 per metric ton for the second consecutive time. The Western European HRB price fell 2.5% to US$536 per metric ton (on a Euro basis, it declined 0.7%) for the sixth consecutive time.
USA – US$723 per metric ton (US$656 per ton), FOB the mill – up US$3 per metric ton from US$720 (US$653 ton) two weeks ago, up US$86 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$170 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$247 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$480 (39.9%) 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 – down US$3 per metric ton from US$413 two weeks ago, down US$37 per metric ton from the recent low of US$447 on 10 September 2012 and up US$3 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$536 (€430e) per metric ton, ex-works – down US$14 per metric ton from US$550 (€433e) two weeks ago (on a Euro basis, it was down €3), down US$54 (down €24) from the recent low of US$590 (€454) on 8 July 2013 and down US$35 (up €49) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$316 (€175) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$668 (55.5%) (€326) (43.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$524 per metric ton, FOB the port of export – down US$8 per metric ton from US$532 two weeks ago, down US$8 per metric ton from the recent low of US$532 on 9 October 2012 and up US$28 from the low of US$496 per metric ton on 9 November 2009. It is down US$249 per metric ton from the recent high of US$773 on 14 February 2011 and down US$589 (52.9%) from the record peak of US$1,113 per metric ton on 28 July 2008.
USA – US$723 per metric ton (US$656 per ton), FOB the mill – up US$3 per metric ton from US$720 (US$653 ton) two weeks ago, up US$86 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$170 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$247 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$480 (39.9%) 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 – down US$3 per metric ton from US$413 two weeks ago, down US$37 per metric ton from the recent low of US$447 on 10 September 2012 and up US$3 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$536 (€430e) per metric ton, ex-works – down US$14 per metric ton from US$550 (€433e) two weeks ago (on a Euro basis, it was down €3), down US$54 (down €24) from the recent low of US$590 (€454) on 8 July 2013 and down US$35 (up €49) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$316 (€175) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$668 (55.5%) (€326) (43.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$524 per metric ton, FOB the port of export – down US$8 per metric ton from US$532 two weeks ago, down US$8 per metric ton from the recent low of US$532 on 9 October 2012 and up US$28 from the low of US$496 per metric ton on 9 November 2009. It is down US$249 per metric ton from the recent high of US$773 on 14 February 2011 and down US$589 (52.9%) from the record peak of US$1,113 per metric ton on 28 July 2008.
