September 06, 2008

Hot band spot prices moving towards record levels

SteelBenchmarker reported that the US hot rolled band spot price for December 14th 2007 surged by 2.5% to USD 621 per ton on FOB basis after 4 consecutive rises, world export HRB price rise by 2.2% to USD 601 per tonne FOB the port of export for the second consecutive time, Chinese HRB ex works price down by 0.8% to USD 525 per tonne for the third consecutive time and the Western European HRB up by 1.6% to USD 686 per tonne ex works, after slipping last time.

USA
USD 621 per ton FOB the mill
Up by USD 15 per ton from USD 606 two weeks ago
Up by USD 61 per ton from the recent low of USD 560 on August 13th 2007
Down by USD 9 per ton from the recent high of USD 630 on April 9th 2007

China
USD 525 per tonne ex works
Down by USD 4 per tonne from USD 529 two weeks ago
Up by USD 55 per tonne from the recent low of USD 470 on October 22nd 2007
Up by USD 38 per ton from the previous high of USD 487 on September 10th 2007

Western Europe
USD 686 per tonne ex works
Up by USD 11 per tonne from USD 675 two weeks ago
Up by USD 23 per tonne from the recent low of USD 663 on July 23rd 2007
Down by USD 10 per tonne from the recent high of USD 696 on June 11th 2007

World Export Price
USD 601 per tonne FOB the port of export
Up by USD 13 per tonne versus USD 588 two weeks ago
Up by USD 51 per tonne from the recent low of USD 550 on July 23rd 2007
Up by USD 5 per tonne from the recent high of USD 596 on March 26th2007

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.