September 06, 2008

Hot band spot price rise starts faltering in US, EU and China

SteelBenchmarker reported that the US hot rolled band spot price for October 22nd 2007 dropped by 0.5% to USD 577 per metric tonne, FOB the mill after 4 consecutive rises, The World export HRB price dropped by 0.3% to USD 585 per tonne FOB the port of export for the fourth consecutive time. The Chinese HRB ex works price fell by 0.4% to USD 470 per tonne for the third consecutive time. The Western European HRB price dropped by 0.7% to USD 672 per tonne ex works for the second consecutive time.

USA
USD 577 per metric ton FOB mill or USD 523 per net ton
Down by USD 3 per ton from USD 580 two weeks ago
Down USD 53 per ton from USD 630 on April 9th 2007
Up by USD 17 per ton from USD 560 on August 13th 2007

China
USD 470per metric tonne EXW
Down by USD 2 per tonne from USD 472 two weeks ago
Down by USD 17 per tonne from USD 487 on September 10th 2007
Up by USD 13 per tonne from USD 457 on May 14th 2007
Up by USD 68 per tonne from USD 402 on July 9th 2007

Western Europe
USD 672 per metric tonne EXW or EUR 472 per tonne
Down by USD 5 per tonne from USD 677 two weeks ago (On Euro basis by EUR 8)
Down by USD 24 per tonne from high of USD 696 on June 11th 2007
Up by USD 9 per tonne from the low of USD 660 on March 12th 2007

World Export Price
USD 585 per metric tonne FOB port of export
Up by USD 2 per tonne against USD 583 two weeks ago
Down by USD 11 per tonne from USD 596 on March 26th 2007
Up by USD 35 per tonne from USD 550 on July 23rd 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.