SteelBenchmarker: HRB Prices Heading for the Bottom
02/27/2015 - In its 214th report, the SteelBenchmarker released nine steel products and three USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 23 February 2015:
The bi-monthly SteelBenchmarker™ Chinese HRB price for 23 February 2015 increased 0.6% to US$350 per metric ton after falling four consecutive times. The Western European HRB price declined 0.9% to US$453 per metric ton (on a Euro basis, it declined 1.0%) after no change last time. The World export HRB price fell 4.2% to US$453 per metric ton for the ninth consecutive time. The United States HRB spot price plunged 6.5% to US$575 per metric ton for the seventh consecutive time.
USA – US$575 per metric ton (US$522 per ton), FOB the mill – down US$40 per metric ton from US$615 (US$558 ton) two weeks ago, down US$62 from the recent low of US$637 (US$578 ton) on 27 May 2013 but up US$22 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$395 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$628 (52.2%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$350 per metric ton, ex-works – up US$2 per metric ton from US$348 two weeks ago, down US$97 per metric ton from the recent low of US$447 on 10 September 2012 and down US$57 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$287 per metric ton from the recent high of US$637 on 22 August 2011 and down US$383 (52.3%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$453 (€400e) per metric ton, ex-works – down US$4 per metric ton from US$457 (€404e) two weeks ago (on a Euro basis, down €4), down US$137 (down €54) from the recent low of US$590 (€454) on 8 July 2013 and down US$118 (up €19) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$399 (€205) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$751 (62.4%) (€356) (47.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$453 per metric ton, FOB the port of export – down US$20 per metric ton from US$473 two weeks ago, down US$79 per metric ton from the recent low of US$532 on 8 October 2012 and down US$43 from the low of US$496 per metric ton on 9 November 2009. It is down US$320 per metric ton from the recent high of US$773 on 14 February 2011 and down US$660 (59.3%) from the record peak of US$1,113 per metric ton on 28 July 2008.
USA – US$575 per metric ton (US$522 per ton), FOB the mill – down US$40 per metric ton from US$615 (US$558 ton) two weeks ago, down US$62 from the recent low of US$637 (US$578 ton) on 27 May 2013 but up US$22 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$395 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$628 (52.2%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$350 per metric ton, ex-works – up US$2 per metric ton from US$348 two weeks ago, down US$97 per metric ton from the recent low of US$447 on 10 September 2012 and down US$57 per metric ton from the low of US$407 per metric ton on 12 October 2009. It is down US$287 per metric ton from the recent high of US$637 on 22 August 2011 and down US$383 (52.3%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$453 (€400e) per metric ton, ex-works – down US$4 per metric ton from US$457 (€404e) two weeks ago (on a Euro basis, down €4), down US$137 (down €54) from the recent low of US$590 (€454) on 8 July 2013 and down US$118 (up €19) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$399 (€205) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$751 (62.4%) (€356) (47.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$453 per metric ton, FOB the port of export – down US$20 per metric ton from US$473 two weeks ago, down US$79 per metric ton from the recent low of US$532 on 8 October 2012 and down US$43 from the low of US$496 per metric ton on 9 November 2009. It is down US$320 per metric ton from the recent high of US$773 on 14 February 2011 and down US$660 (59.3%) from the record peak of US$1,113 per metric ton on 28 July 2008.
