World Export HRC Falls Below $600
China up 5.6%; World Export, Western Europe and USA down 4.0%, 7.2% and 8.3%.
SteelBenchmarkerTM Report #392
ENGLEWOOD CLIFFS, NJ – The bi-monthly SteelBenchmarkerTM China HRB price for August 8th rallied up to $507 per tonne for the first time after going down for the past seven reports. The World Export HRB price fell further to $595 per tonne for the eighth consecutive time. The Western European HRB price continued its downward slide for the ninth time, by $61 per tonne (on a Euro basis, it was down €58) to $785 per tonne. The United States HRB price dropped down to $977 per tonne for the seventh consecutive time.
In its three hundred ninety-second report, the SteelBenchmarkerTM released 10 steel products and 3 USA scrap prices. Of these, here are four benchmark prices for hot-rolled band August 08, 2022:
USA – $977 per metric tonne (886 per net ton), FOB the mill – down $88 from $1,065 ($966 nt) two weeks ago, up $565 from the recent low of $412 ($374 nt) on Dec. 14, 2015 and up $548 from the low of $429 per tonne ($390 nt) on May 25, 2009. It is down $29 per tonne from the recent high of $1,006 ($912 nt) on Jul. 11, 2018. Also, it is down $226 from the previous record peak of $1,203 per tonne ($1,091 nt) on July 28, 2008 and down $1,166 (54.4%) from the record peak of $2,143 per tonne ($1,094 nt) on October 11, 2021.
China – $507 per metric tonne, ex-works – up $27 from $480 two weeks ago, up $276 per tonne from the recent low of $231 on Dec. 14, 2015 and up $100 per tonne from the low of $407 per tonne on Oct. 12, 2009. It is down $130 per tonne from the recent high of $637 on Aug. 22, 2011. Also, it is down $226 from the previous record peak of $733 per tonne on July 14, 2008 and down $298 (37.0%) from the record peak of $805 per tonne on May 10, 2021.
Western Europe - $785 (€846) per metric tonne, ex-works – down $61 (down €58) from $846 (€828) two weeks ago, up $439 (up €445) from the recent low of $346 (€325) on Nov. 23, 2015 and up $214 (up €389) from the low of $571 (€381) per tonne on Nov. 23, 2009. It is down $67 (up €165) per tonne from the recent high of $852 (€605) on Mar. 28, 2011. Also, it is down $419 (up €14) from the previous record peak of $1,204 (€756) per tonne on July 14, 2008. and down $765 (49.4%) (down €642) (45.5%) from the record peak of $1,550 (€1,412) per tonne on March 28, 2022.
World Export Price – $595 per metric tonne, FOB the port of export – down $25 from $620 compared to two weeks ago, up $323 per tonne from the recent low of $272 on Feb. 8, 2016 and up $99 from the low of $496 per tonne on Nov. 9, 2009. It is down $178 per tonne from the recent high of $773 on Feb 14, 2011. Also, it is down $518 from the previous record peak of $1,113 per tonne on July 28, 2008 and down $680 (53.3%) from the record peak of $1,275 per tonne on April 11, 2022.