Global Price Upward Momentum Waning
China, USA and World Export up 4.5%, 0.4% and 0.2%; Western Europe down 0.4%.
SteelBenchmarkerTM Report #370
ENGLEWOOD CLIFFS, NJ – The bi-monthly SteelBenchmarkerTM Chinese HRB price was up at $768 per tonne after going down twice. The United States HRB price for September 15th was up at $2,078 for the twenty-sixth consecutive time. The World Export HRB price was up at $945 per tonne after decreasing five consecutive times.
The Western European HRB price was down (on a Euro basis, it was down €11) at $1,325 for the second time.
In its three hundred sixty-ninth report, the SteelBenchmarkerTM released 10 steel products and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band September 15, 2021:
USA – $2,078 per metric tonne ($1,885 per net ton), FOB the mill – up $9 from $2,069 ($1,877 nt) two weeks ago, up $1,666 from the recent low of $412 ($374 nt) on Dec. 14, 2015 and up $1,649 from the low of $429 per tonne ($390 nt) on May 25, 2009. It is up $1,072 per tonne from the recent high of $1,006 ($912 nt) on Jul. 11, 2018 and up $875 (72.7%) from the record peak of $1,203 per tonne ($1,091 nt) on July 28, 2008.
China – $768 per metric tonne, ex-works – up $33 from $735 two weeks ago, up $537 per tonne from the recent low of $231 on Dec. 14, 2015 and up $361 per tonne from the low of $407 per tonne on Oct. 12, 2009. It is up $131 per tonne from the recent high of $637 on Aug. 22, 2011 and up $35 (4.8%) from the record peak of $733 per tonne on July 14, 2008.
Western Europe - $1,325 (€1,122) per metric tonne, ex-works – down $5 (down €11) from $1,330 (€1,133) two weeks ago, up $979 (up €797) from the recent low of $346 (€325) on Nov. 23, 2015 and up $754 (up €741) from the low of $571 (€381) per tonne on Nov. 23, 2009. It is up $473 (€517) per tonne from the recent high of $852 (€605) on Mar. 28, 2011 and up $121 (10.0%) (€366) (48.4%) from the record peak of $1,204 (€756) per tonne on July 14, 2008.
World Export Price – $945 per metric tonne, FOB the port of export – up $2 from $943 compared to two weeks ago, up $673 per tonne from the recent low of $272 on Feb. 8, 2016 and up $449 from the low of $496 per tonne on Nov. 9, 2009. It is up $172 per tonne from the recent high of $773 on Feb 14, 2011 and down $168 (15.1%) from the record peak of $1,113 per tonne on July 28, 2008.