U.S. HRB Prices Decline to Below $2,000/mt
China up 1.8%; USA, Western Europe, and World Export down 2.9%, 7.6% and 8.9%.
SteelBenchmarkerTM Report #376
ENGLEWOOD CLIFFS, NJ – The bi-monthly SteelBenchmarkerTM Chinese HRB price for December 15th was up for the first time after going down three consecutive times at $634 per tonne. The United States HRB price was down for the fourth consecutive time to $1,947 per tonne. The World Export HRB price went down to $820 per tonne a second time. The Western European HRB price continues to fall (on a Euro basis, it was down €81) to $1,016 for the eighth consecutive time.
In its three hundred seventy-sixth report, the SteelBenchmarkerTM released 10 steel products and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band December 15, 2021:
USA – $1,947 per metric tonne ($1,767 per net ton), FOB the mill – down $59 from $2,006 ($1,820 nt) two weeks ago, up $1,535 from the recent low of $412 ($374 nt) on Dec. 14, 2015 and up $1,518 from the low of $429 per tonne ($390 nt) on May 25, 2009. It is up $941 per tonne from the recent high of $1,006 ($912 nt) on Jul. 11, 2018 and up $744 (61.8%) from the record peak of $1,203 per tonne ($1,091 nt) on July 28, 2008.
China – $634 per metric tonne, ex-works – up $11 from $670 two weeks ago, up $403 per tonne from the recent low of $231 on Dec. 14, 2015 and up $227 per tonne from the low of $407 per tonne on Oct. 12, 2009. It is down $3 per tonne from the recent high of $637 on Aug. 22, 2011 and down $99 (13.5%) from the record peak of $733 per tonne on July 14, 2008.
Western Europe - $1,016 (€898) per metric tonne, ex-works – down $84 (down €81) from $1,100 (€979) two weeks ago, up $670 (up €573) from the recent low of $346 (€325) on Nov. 23, 2015 and up $445 (up €517) from the low of $571 (€381) per tonne on Nov. 23, 2009. It is up $164 (up €293) per tonne from the recent high of $852 (€605) on Mar. 28, 2011 and down $188 (15.6%) (up €142) (18.8%) from the record peak of $1,204 (€756) per tonne on July 14, 2008.
World Export Price – $820 per metric tonne, FOB the port of export – down $80 from $900 compared to two weeks ago, up $548 per tonne from the recent low of $272 on Feb. 8, 2016 and up $324 from the low of $496 per tonne on Nov. 9, 2009. It is up $47 per tonne from the recent high of $773 on Feb 14, 2011 and down $293 (26.3%) from the record peak of $1,113 per tonne on July 28, 2008.