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SteelBenchmarker: HRB Prices in U.S. and China Take a Pause
09/11/2013 - The bi-monthly SteelBenchmarker™ Western European HRB price for 9 September 2013 showed Western Europe and world export prices up 1.5% and 1.2%, respectively, and prices in the U.S. and China down 0.3% and 0.6%, respectively.
The bi-monthly SteelBenchmarker™ Western European HRB price for 9 September 2013 rose 1.5% to US$603 per metric ton (on a Euro basis, it rose 2.2%) after falling last time. The World export HRB price rose 1.2% to US$577 per metric ton for the fourth consecutive time. The United States HRB spot price slipped 0.3% to US$718 per metric ton after being flat last time. The Chinese HRB price slipped 0.6% to US$500 per metric ton after rising four consecutive times.
In its one hundred seventy ninth report, the SteelBenchmarker released 11 steel product and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 9 September 2013:
USA – US$718 per metric ton (US$651 per net ton), FOB the mill — down US$2 per metric ton from US$720 (US$653 ton) two weeks ago, up US$66 from the recent low of US$652 (US$591 ton) on 22 October 2012 and up US$165 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$252 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$485 (40.3%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$500 per metric ton, ex-works — down US$3 per metric ton from US$503 two weeks ago, up US$53 per metric ton from the recent low of US$447 on 10 September 2012 and up US$93 from the low of US$407 per metric ton on 12 October 2009. It is down US$137 per metric ton from the recent high of US$637 on 22 August 2011 and down US$233 (31.8%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$603 (€455) per metric ton, ex-works — up US$9 per metric ton from US$594 (€445) two weeks ago (on a Euro basis, it was up €10), up US$12 (down €10) from the recent low of US$591 (€465) on 12 November 2012 and up US$32 (up €74) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$249 (€150) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$601 (49.9%) (€301) (39.8%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$577 per metric ton, FOB the port of export — up US$7 per metric ton from US$570 two weeks ago, up US$45 from the recent low of US$532 on 8 October 2012 and up US$81 from the low of US$496 per metric ton on 9 November 2009. It is down US$225 per metric ton from the recent high of US$802 on 14 February 2011 and down US$536 (48.2%) from the record peak of US$1,113 per metric ton on 28 July 2008.
