SteelBenchmarker: HRB Prices in Downward Spiral
02/25/2015 - In its 213th report, the SteelBenchmarker released nine steel products and three USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 9 February 2015:
The bi-monthly SteelBenchmarker™ Western European HRB price for 9 February 2015 stayed flat at US$457 per metric ton (on a Euro basis, it declined 0.7%) after declining 11 consecutive times. The World export HRB price declined 2.3% to US$473 per metric ton for the eighth consecutive time. The Chinese HRB price fell 3.6% to US$348 per metric ton for the fourth consecutive time. The United States HRB spot price fell 3.9% to US$615 per metric ton for the sixth consecutive time.
USA – US$615 per metric ton (US$558 per ton), FOB the mill – down US$25 per metric ton from US$640 (US$580 ton) two weeks ago, down US$22 from the recent low of US$637 (US$578 ton) on May 27, 2013 but up US$62 from the low of US$553 per metric ton (US$502 ton) on Nov. 23, 2009. It is down US$355 per metric ton from the recent high of US$970 (US$880 ton) on Mar. 28, 2011 and down US$588 (48.9%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on July 28, 2008.
China – US$348 per metric ton, ex-works – down US$13 per metric ton from US$361 two weeks ago, down US$99 per metric ton from the recent low of US$447 on Sept. 10, 2012 and down US$59 per metric ton from the low of US$407 per metric ton on Oct. 12, 2009. It is down US$289 per metric ton from the recent high of US$637 on Aug. 22, 2011 and down US$385 (52.5%) from the record peak of US$733 per metric ton on July 14, 2008.
Western Europe – US$457 (€404e) per metric ton, ex-works – no change at US$457 (€407e) two weeks ago (on a Euro basis, down €3), down US$133 (down €50) from the recent low of US$590 (€454) on July 8, 2013 and down US$114 (up €23) from the low of US$571 (€381) per metric ton on Nov. 23, 2009. It is down US$395 (€201) per metric ton from the recent high of US$852 (€605) on Mar. 28, 2011 and down US$747 (62.0%) (€352) (46.6%) from the record peak of US$1,204 (€756) per metric ton on July 14, 2008.
World Export Price – US$473 per metric ton, FOB the port of export – down US$11 per metric ton from US$484 two weeks ago, down US$59 per metric ton from the recent low of US$532 on Oct. 8, 2012 and down US$23 from the low of US$496 per metric ton on Nov. 9, 2009. It is down US$300 per metric ton from the recent high of US$773 on Feb. 14, 2011 and down US$640 (57.5%) from the record peak of US$1,113 per metric ton on July 28, 2008.
USA – US$615 per metric ton (US$558 per ton), FOB the mill – down US$25 per metric ton from US$640 (US$580 ton) two weeks ago, down US$22 from the recent low of US$637 (US$578 ton) on May 27, 2013 but up US$62 from the low of US$553 per metric ton (US$502 ton) on Nov. 23, 2009. It is down US$355 per metric ton from the recent high of US$970 (US$880 ton) on Mar. 28, 2011 and down US$588 (48.9%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on July 28, 2008.
China – US$348 per metric ton, ex-works – down US$13 per metric ton from US$361 two weeks ago, down US$99 per metric ton from the recent low of US$447 on Sept. 10, 2012 and down US$59 per metric ton from the low of US$407 per metric ton on Oct. 12, 2009. It is down US$289 per metric ton from the recent high of US$637 on Aug. 22, 2011 and down US$385 (52.5%) from the record peak of US$733 per metric ton on July 14, 2008.
Western Europe – US$457 (€404e) per metric ton, ex-works – no change at US$457 (€407e) two weeks ago (on a Euro basis, down €3), down US$133 (down €50) from the recent low of US$590 (€454) on July 8, 2013 and down US$114 (up €23) from the low of US$571 (€381) per metric ton on Nov. 23, 2009. It is down US$395 (€201) per metric ton from the recent high of US$852 (€605) on Mar. 28, 2011 and down US$747 (62.0%) (€352) (46.6%) from the record peak of US$1,204 (€756) per metric ton on July 14, 2008.
World Export Price – US$473 per metric ton, FOB the port of export – down US$11 per metric ton from US$484 two weeks ago, down US$59 per metric ton from the recent low of US$532 on Oct. 8, 2012 and down US$23 from the low of US$496 per metric ton on Nov. 9, 2009. It is down US$300 per metric ton from the recent high of US$773 on Feb. 14, 2011 and down US$640 (57.5%) from the record peak of US$1,113 per metric ton on July 28, 2008.
