SteelBenchmarker: HRB Price Spirals Down
03/31/2014 - The bi-monthly SteelBenchmarker™ United States HRB spot price for 24 March 2014 was up 1.1% to US$712 per metric ton after declining four consecutive times.
The World export HRB price was down 1.3% to US$550 per metric ton for the fourth consecutive time. The Western European HRB price was down 1.8% to US$593 per metric ton (on a Euro basis, it was down 1.1%) after rising last time. The Chinese HRB price was down 1.8% to US$448 per metric ton for the fifth consecutive time.
In its 192nd report, the SteelBenchmarker released 10 steel product and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 24 March 2014:
USA – US$712 per metric ton (US$646 per ton), FOB the mill — up US$8 per metric ton from US$704 (US$639 ton) two weeks ago, up US$75 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$159 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$258 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$491 (40.8%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$448 per metric ton, ex-works — down US$8 per metric ton from US$456 two weeks ago, up US$1 per metric ton from the recent low of US$447 on 10 September 2012 and up US$41 from the low of US$407 per metric ton on 12 October 2009. It is down US$189 per metric ton from the recent high of US$637 on 22 August 2011 and down US$285 (38.9%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$593 (€430) per metric ton, ex-works — down US$11 per metric ton from US$604 (€435e) two weeks ago (on a Euro basis, it was down €5), up US$3 (down €24) from the recent low of US$590 (€454) on 8 July 2013 and up US$22 (up €49) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$259 (€175) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$611 (50.7%) (€326) (43.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$550 per metric ton, FOB the port of export — down US$7 per metric ton from US$557 two weeks ago, up US$18 from the recent low of US$532 on 8 October 2012 and up US$54 from the low of US$496 per metric ton on 9 November 2009. It is down US$252 per metric ton from the recent high of US$802 on 14 February 2011 and down US$563 (50.6%) from the record peak of US$1,113 per metric ton on 28 July 2008.
In its 192nd report, the SteelBenchmarker released 10 steel product and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 24 March 2014:
USA – US$712 per metric ton (US$646 per ton), FOB the mill — up US$8 per metric ton from US$704 (US$639 ton) two weeks ago, up US$75 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$159 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$258 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$491 (40.8%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$448 per metric ton, ex-works — down US$8 per metric ton from US$456 two weeks ago, up US$1 per metric ton from the recent low of US$447 on 10 September 2012 and up US$41 from the low of US$407 per metric ton on 12 October 2009. It is down US$189 per metric ton from the recent high of US$637 on 22 August 2011 and down US$285 (38.9%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$593 (€430) per metric ton, ex-works — down US$11 per metric ton from US$604 (€435e) two weeks ago (on a Euro basis, it was down €5), up US$3 (down €24) from the recent low of US$590 (€454) on 8 July 2013 and up US$22 (up €49) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$259 (€175) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$611 (50.7%) (€326) (43.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$550 per metric ton, FOB the port of export — down US$7 per metric ton from US$557 two weeks ago, up US$18 from the recent low of US$532 on 8 October 2012 and up US$54 from the low of US$496 per metric ton on 9 November 2009. It is down US$252 per metric ton from the recent high of US$802 on 14 February 2011 and down US$563 (50.6%) from the record peak of US$1,113 per metric ton on 28 July 2008.
