SteelBenchmarker: HRB Prices Nosediving
11/28/2014 - In its 208th report, the SteelBenchmarker released nine steel products and three USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 24 November 2014:
The bi-monthly SteelBenchmarker™ Chinese HRB price for 24 November 2014 declined 0.7% to US$407 per metric ton for the seventh consecutive time. The United States HRB spot price fell 1.4% to US$713 per metric ton after increasing last time. The World export HRB price fell 2.3% to US$512 per metric ton for the third consecutive time. The Western European HRB price fell 3.9% to US$515 per metric ton (on a Euro basis, it fell 3.5%) for the seventh consecutive time.
USA – US$713 per metric ton (US$647 per ton), FOB the mill – down US$10 per metric ton from US$723 (US$656 ton) two weeks ago, up US$76 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$160 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$257 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$490 (40.7%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$407 per metric ton, ex-works – down US$3 per metric ton from US$410 two weeks ago, down US$40 per metric ton from the recent low of US$447 on 10 September 2012 and flat with the low of US$407 per metric ton on 12 October 2009. It is down US$230 per metric ton from the recent high of US$637 on 22 August 2011 and down US$326 (44.5%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$515 (€415e) per metric ton, ex-works – down US$21 per metric ton from US$536 (€430e) two weeks ago (on a Euro basis, it was down €15), down US$75 (down €39) from the recent low of US$590 (€454) on 8 July 2013 and down US$56 (up €34) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$337 (€190) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$689 (57.2%) (€341) (45.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$512 per metric ton, FOB the port of export – down US$12 per metric ton from US$524 two weeks ago, down US$20 per metric ton from the recent low of US$532 on 8 October 2012 and up US$16 from the low of US$496 per metric ton on 9 November 2009. It is down US$261 per metric ton from the recent high of US$773 on 14 February 2011 and down US$601 (54.0%) from the record peak of US$1,113 per metric ton on 28 July 2008.
USA – US$713 per metric ton (US$647 per ton), FOB the mill – down US$10 per metric ton from US$723 (US$656 ton) two weeks ago, up US$76 from the recent low of US$637 (US$578 ton) on 27 May 2013 and up US$160 from the low of US$553 per metric ton (US$502 ton) on 23 November 2009. It is down US$257 per metric ton from the recent high of US$970 (US$880 ton) on 28 March 2011 and down US$490 (40.7%) from the record peak of US$1,203 per metric ton (US$1,091 ton) on 28 July 2008.
China – US$407 per metric ton, ex-works – down US$3 per metric ton from US$410 two weeks ago, down US$40 per metric ton from the recent low of US$447 on 10 September 2012 and flat with the low of US$407 per metric ton on 12 October 2009. It is down US$230 per metric ton from the recent high of US$637 on 22 August 2011 and down US$326 (44.5%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe – US$515 (€415e) per metric ton, ex-works – down US$21 per metric ton from US$536 (€430e) two weeks ago (on a Euro basis, it was down €15), down US$75 (down €39) from the recent low of US$590 (€454) on 8 July 2013 and down US$56 (up €34) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$337 (€190) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$689 (57.2%) (€341) (45.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price – US$512 per metric ton, FOB the port of export – down US$12 per metric ton from US$524 two weeks ago, down US$20 per metric ton from the recent low of US$532 on 8 October 2012 and up US$16 from the low of US$496 per metric ton on 9 November 2009. It is down US$261 per metric ton from the recent high of US$773 on 14 February 2011 and down US$601 (54.0%) from the record peak of US$1,113 per metric ton on 28 July 2008.
