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SteelBenchmarker Reports Slipping Hot Rolled Band Prices
03/27/2013 - In its 25 March 2013 report, the SteelBenchmarker noted falling hot rolled band prices in all regions tracked.
The bi-monthly SteelBenchmarker™ United States HRB spot price for 25 March 2013 slipped 0.9% to $678 per tonne, FOB the mill, after rising last time. The Chinese HRB ex-works price fell 1.7% to $529 per tonne, for the third consecutive time. The Western European HRB price declined 1.9% to $633 per tonne (on a Euro basis, it fell 0.6%), ex-works, for the fourth consecutive time. The World export HRB price fell 2.2% to $591 per tonne, FOB the port of export, for the second consecutive time.
In its 168th report, the SteelBenchmarker released 11 steel product and 3 U.S. scrap prices. Of these, here are four benchmark prices for hot-rolled band for 25 March 2013:
U.S. – $678 per tonne ($615 per net ton), FOB the mill — down $6 per tonne from $684 ($620 ton) two weeks ago, up $26 per tonne from the recent low of $652 ($591 ton) on 22 October 2012, and down $138 per tonne from the recent high of $816 ($740 ton) on 23 January 2012. It is down $525 (43.6%) per tonne from the record peak of $1,203 ($1,091 ton) on 28 July 2008.
China – $529 per tonne, ex-works — down $9 per tonne from $538 two weeks ago, up $122 per tonne from the previous low of $407 on 12 October 2009, and down $108 per tonne from the recent high of $637 on 22 August 2011. It is down $204 (27.8%) from the record peak of $733 on 14 July 2008.
Western Europe – $633 (€492) per tonne, ex-works — down $12 per tonne from $645 (€495) per tonne two weeks ago (on a Euro basis, it was down €3), up $62 (up €111) from the previous low of $571 (€381) on 23 November 2009, and down $67 (€28) per tonne from the recent high of $700 (€520) on 27 February 2012. It is down $571 (€264) (47.5%) from the record peak of $1,204 (€756) on 14 July 2008.
World Export Price – $591 per tonne, FOB the port of export — down $13 per tonne from $604 two weeks ago, up $95 per tonne from the previous low of $496 on 9 November 2009, and down $65 per tonne from the recent high of $656 on 12 March 2012. It is down $522 (46.9%) per tonne from the record peak of $1,113 on 28 July 2008.
