October 07, 2008

Global HRB spot prices eruption slows down

SteelBenchmarker reported that the US hot rolled band spot price for May 12th 2008 surged by 5.2% to USD 1,154 per ton, FOB the mill for the thirteen consecutive rise totaling USD 577, world export HRB price rise by 2.9% to USD 1,024 per tonne FOB the port of export, for the eleventh consecutive rise totaling USD 443, Chinese HRB ex works price surged by 3.9% to USD 697 per tonne for the third consecutive rise and the Western European HRB surged by 2.1% to USD 1.088 per tonne ex works for the sixth consecutive time totaling USD 375.

USA
USD 1,154 per metric tonne FOB the mill
Up by USD 57 per tonne from USD 1,097 two weeks ago
Up by USD 594 per tonne from the recent low of USD 560 on August 13th 2007
Up by USD 524 per tonne from the recent high of USD 630 on April 9th 2007

China
USD 697 per metric tonne, ex works
Up by USD 26 per tonne from USD 671 two weeks ago
Up by USD 227 per tonne from the recent low of USD 470 on October 22nd 2007
Up by USD 210 per tonne from the previous high of USD 487 on September 10th 2007

Western Europe
USD 1,088 per metric tonne ex works
Up by USD 22 per tonne from USD 1,066 two weeks ago
Up by USD 425 per tonne from the recent low of USD 663 on July 23rd 2007
Up by USD 392 per tonne from the recent high of USD 696 on June 11th 2007

World Export Price
USD 1,024 per metric tonne FOB the port of export
Up by USD 29 per tonne versus USD 995 two weeks ago
Up by USD 474 per tonne from the recent low of USD 550 on July 23, 2007
Up by USD 428 per tonne from the recent high of USD 596 on March 26th 2007

SteelBenchmarker publishes steel benchmark prices for HRB, CR coil, rebar and standard plate in the US, Western Europe, mainland China, and the world export market every fortnight.