SteelBenchmarker: HRB Prices Have No Support
01/14/2015 - In its 211th report, the SteelBenchmarker™ released 9 steel products and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 12 January 2015:
The bi-monthly SteelBenchmarker™ World export HRB price for 12 January 2015 declined 1.6% to US$494 per metric ton for the sixth consecutive time. The United States HRB spot price fell 2.0% to US$670 per metric ton for the fourth consecutive time. The Chinese HRB price fell 3.2% to US$392 per metric ton for the second consecutive time. The Western European HRB price fell 3.2% to US$487 per metric ton (on a Euro basis, it stayed flat) for the tenth consecutive time.
USA – US$670 per metric ton (US$608 per ton), FOB the mill – down US$14 per metric ton from US$684 (US$620 ton) three weeks ago, up US$33 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$117 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$300 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$533 (44.3%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$392 per metric ton, ex-works – down US$13 per metric ton from US$405 three weeks ago, down US$55 per metric ton from the recent low of US$447 on 10 September 2012 and down US$15 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$245 per metric ton from the recent high of US$637 on 22 August 2011 and down US$341 (46.5%) from the record peak of US$733 per metric ton on 12 July 2008.
Western Europe – US$487 (€412e) per metric ton, ex-works – down US$16 per metric ton from US$503 (€412e) three weeks ago (on a Euro basis, it was flat), down US$103 (down €42) from the recent low of US$590 (€454) on 8 July2013 and down US$84 (up €31) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$365 (€193) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$717 (59.6%) (€344) (45.5%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$494 per metric ton, FOB the port of export – down US$8 per metric ton from US$502 three weeks ago, down US$38 per metric ton from the recent low of US$532 on 8 October 2012 and down US$2 from the low of US$496 per metric ton on 9 November 2009. It is down US$279 per metric ton from the recent high of US$773 on 14 February 2011 and down US$619 (55.6%) from the record peak of US$1,113 per metric ton on 28 July 2008.
USA – US$670 per metric ton (US$608 per ton), FOB the mill – down US$14 per metric ton from US$684 (US$620 ton) three weeks ago, up US$33 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$117 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$300 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$533 (44.3%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$392 per metric ton, ex-works – down US$13 per metric ton from US$405 three weeks ago, down US$55 per metric ton from the recent low of US$447 on 10 September 2012 and down US$15 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$245 per metric ton from the recent high of US$637 on 22 August 2011 and down US$341 (46.5%) from the record peak of US$733 per metric ton on 12 July 2008.
Western Europe – US$487 (€412e) per metric ton, ex-works – down US$16 per metric ton from US$503 (€412e) three weeks ago (on a Euro basis, it was flat), down US$103 (down €42) from the recent low of US$590 (€454) on 8 July2013 and down US$84 (up €31) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$365 (€193) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$717 (59.6%) (€344) (45.5%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$494 per metric ton, FOB the port of export – down US$8 per metric ton from US$502 three weeks ago, down US$38 per metric ton from the recent low of US$532 on 8 October 2012 and down US$2 from the low of US$496 per metric ton on 9 November 2009. It is down US$279 per metric ton from the recent high of US$773 on 14 February 2011 and down US$619 (55.6%) from the record peak of US$1,113 per metric ton on 28 July 2008.
