News Room - Steel Industry

Posted on 01 Aug 2008

Hot band prices start correcting in China and Europe

SteelBenchmarker reported that the US hot rolled band spot price for July 28th 2008 surged by 1.6% to USD 1,203 per ton, FOB the mill for the sixteen consecutive rise totaling USD 610, world export HRB price rise by 0.2% to USD 1,113 per ton FOB the port of export, for the sixteenth consecutive rise totaling USD 532, Chinese HRB ex works price fell by 1.6% to USD 721 per ton for the second consecutive time and the Western European HRB fell by 1.2% to USD 1,190 per tonne ex works for the eleventh consecutive time totaling USD 491.

USA

USD 1,203 per metric tonne FOB the mill
Up by USD 19 per tonne from USD 1,184 two weeks ago
Up by USD 643 per tonne from the recent low of USD 560 on August 13th 2007
Up by USD 573 per tonne from the recent high of USD 630 on April 9th 2007

China

USD 721 per metric tonne, ex works
Down by USD 12 per tonne from USD 733 two weeks ago
Up by USD 251 per tonne from the recent low of USD 470 on October 22nd 2007
Up by USD 234 per tonne from the previous high of USD 487 on September 10th 2007
 
Western Europe

USD 1,190 per metric tonne ex works
Down by USD 14 per tonne from USD 1,204 two weeks ago
Up by USD 527 per tonne from the recent low of USD 663 on July 23rd 2007
Up by USD 494 per tonne from the recent high of USD 696 on June 11th 2007

World Export Price

USD 1,113 per metric tonne FOB the port of export
Up by USD 2 per tonne versus USD 1,111 two weeks ago
Up by USD 563 per tonne from the recent low of USD 550 on July 23rd 2007
Up by USD 517 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.