SteelBenchmarker: HRB Prices Taper Off
08/28/2013 - The latest SteelBenchmarker™ HRB prices show China and world export prices up 1.2% to 0.7%, U.S. prices flat and Western Europe down 1.0% from two weeks earlier.
The bi-monthly SteelBenchmarker™ Chinese HRB price for 26 August 2013 rose 1.2% to US$503 per metric ton for the fourth consecutive time. The World export HRB price rose 0.7% to US$570 per metric ton for the third consecutive time. The United States HRB spot price was flat at US$720 per metric ton after rising five consecutive times. The Western European HRB price fell 1.0% to US$594 per metric ton (on a Euro basis, it was down 1.3%) after rising last time.
In its 178th report, the SteelBenchmarker released 10 steel product and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band for 26 August 2013:
USA — US$720 per metric ton (US$653/ton), FOB the mill — flat compared to two weeks ago, up US$68 from the recent low of US$652 (US$591/ton) on 22 October 2012 and up US$167 from the low of US$553 per metric ton (US$502/ton) on 23 November 2009. It is down US$250 per metric ton from the recent high of US$970 (US$880/ton) on 28 March 2011 and down US$483 (40.1%) from the record peak of US$1,203 per metric ton (US$1,091/ton) on 28 July 2008.
China — US$503 per metric ton, ex-works — up US$6 per metric ton from US$497 two weeks ago, up US$56 per metric ton from the recent low of US$447 on 10 Septemer 2012 and up US$96 from the low of US$407 per metric ton on 12 October 2009. It is down US$134 per metric ton from the recent high of US$637 on 22 August 2011 and down US$230 (31.4%) from the record peak of US$733 per metric ton on 14 July 2008.
Western Europe — US$594 (€445) per metric ton, ex-works — down US$6 per metric ton from US$600 (€451) two weeks ago (on a Euro basis, it was down €6), up US$3 (down €20) from the recent low of US$591 (€465) on 12 November 2012 and up US$23 (up €64) from the low of US$571 (€381) per metric ton on 23 November 2009. It is down US$258 (€160) per metric ton from the recent high of US$852 (€605) on 28 March 2011 and down US$610 (50.7%) (€311) (41.1%) from the record peak of US$1,204 (€756) per metric ton on 14 July 2008.
World Export Price — US$570 per metric ton, FOB the port of export — up US$4 per metric ton from US$566 two weeks ago, up US$38 from the recent low of US$532 on 8 October 2012 and up US$74 from the low of US$496 per metric ton on 9 November 2009. It is down US$232 per metric ton from the recent high of US$802 on 14 February 2011 and down US$543 (48.8%) from the record peak of US$1,113 per metric ton on 28 July 2008.
