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SteelBenchmarker: HRB Prices in a Downdraft
05/27/2013 - The bi-monthly SteelBenchmarker™ Western European HRB price for 13 May 2013 slipped 0.5% to US$617 per tonne (on a Euro basis, it was down 0.4%), ex-works, for the seventh consecutive time.
The bi-monthly SteelBenchmarker™ Western European HRB price for 13 May 2013 slipped 0.5% to US$617 per tonne (on a Euro basis, it was down 0.4%), ex-works, for the seventh consecutive time. The United States HRB spot price fell 2.0% to US$647 per tonne, FOB the mill, for the fourth consecutive time. The Chinese HRB ex-works price fell 2.3% to US$499 per tonne, for the sixth consecutive time. The World export HRB price fell 3.5% to US$553 per tonne, FOB the port of export, for the fifth consecutive time.
In its one hundred seventy first report, the SteelBenchmarker released 10 steel product and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 13 May 2013:
U.S. – US$647 per metric tonne (US$587 per net ton), FOB the mill – down US$13 per tonne from US$660 (US$598 ton) three weeks ago, down US$5 per tonne from the recent low of US$652 (US$591 ton) on 22 October 2012, and down US$169 per tonne from the recent high of US$816 (US$740 ton) on 23 January 2012. It is down US$556 (46.2%) per tonne from the record peak of US$1,203 (US$1,091 ton) on 28 July 2008.
China – US$499 per metric tonne, ex-works – down US$12 per tonne from US$511 three weeks ago, up US$92 per tonne from the previous low of US$407 on 12 October 2009, and down US$138 per tonne from the recent high of US$637 on 22 August 2011. It is down US$234 (31.9%) from the record peak of US$733 on 14 July 2008.
Western Europe – US$617 (€475) per metric tonne, ex-works – down US$3 per tonne from US$620 (€477) per tonne three weeks ago (on a Euro basis, it was down €2), up US$46 (up €94) from the previous low of US$571 (€381) on 23 November 2009, and down US$83 (€45) per tonne from the recent high of US$700 (€520) on 27 February 2012. It is down US$587 (€281) (48.8%) from the record peak of US$1,204 (€756) on 14 July 2008.
World Export Price – US$553 per metric tonne, FOB the port of export – down US$20 per tonne from US$573 three weeks ago, up US$57 per tonne from the previous low of US$496 on 9 November 2009, and down US$103 per tonne from the recent high of US$656 on 12 March 2012. It is down US$560 (50.3%) per tonne from the record peak of US$1,113 on 28 July 2008.
