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SteelBenchmarker: Global HRB Prices Continue Downward

04/24/2013 - The bi-monthly SteelBenchmarker™ World export HRB price fell 2.2% to $573 per tonne, FOB the port of export, for the fourth consecutive time.

The bi-monthly SteelBenchmarker™ Western European HRB price for 22 April 2013 slipped 0.5% to $620 per tonne (on a Euro basis, it was flat), ex-works, for the sixth consecutive time. The Chinese HRB ex-works price fell 1.5% to $511 per tonne, for the fifth consecutive time. The U.S. HRB spot price fell 1.9% to $660 per tonne, FOB the mill, for the third consecutive time. The World export HRB price fell 2.2% to $573 per tonne, FOB the port of export, for the fourth consecutive time.
In its one hundred seventieth report, the SteelBenchmarker™ released 10 steel product and three U.S. scrap prices. Of these, here are four benchmark prices for hot-rolled band for 22 April 2013:
USA – $660 per tonne ($598 per ton), FOB the mill – down $13 per tonne from $673 ($611 ton) two weeks ago, up $8 per tonne from the recent low of $652 ($591 ton) on 22 October 2012, and down $156 per tonne from the recent high of $816 ($740 ton) on 23 January 2012. It is down $543 (45.1%) per tonne from the record peak of $1,203 ($1,091 ton) on 28 July 2008.
China – $511 per tonne, ex-works – down $8 per tonne from $519 two weeks ago, up $104 per tonne from the previous low of $407 on 12 October 2009, and down $126 per tonne from the recent high of $637 on 22 August 2011. It is down $222 (30.3%) from the record peak of $733 on 14 July 2008.
Western Europe – $620 (€477) per tonne, ex-works – down $3 per tonne from $623 (€477) per tonne two weeks ago (on a Euro basis, it was flat), up $49 (up €96) from the previous low of $571 (€381) on 23 November 2009, and down $80 (€43) per tonne from the recent high of $700 (€520) on 27 February 2012. It is down $584 (€279) (48.5%) from the record peak of $1,204 (€756) on 14 July 2008.
World Export Price – $573 per tonne, FOB the port of export – down $13 per tonne from $586 two weeks ago, up $77 per tonne from the previous low of $496 on 9 November 2009, and down $83 per tonne from the recent high of $656 on 12 March 2012. It is down $540 (48.5%) per tonne from the record peak of $1,113 on 28 July 2008.