SteelBenchmarker reported that the US hot rolled band spot price for October 27th 2008 dropped by 9.7% to USD 886 per ton, FOB the mill for the sixth consecutive, world export HRB price dropped by 12.1% to USD 702 per tonne FOB the port of export, for the sixth consecutive time, Chinese HRB ex works price dropped by 10.9% to USD 408 per tonne for the third time and the Western European HRB dropped by 8.5% to USD 920 per tonne ex works for the sixth consecutive time.
USA
USD 886 per metric tonne FOB the mill
Down by USD 95 per tonne from USD 981 two weeks ago
Down by USD 317 per tonne from the peak of USD 1,203 on July 28th 2008
Up by USD 256 per tonne from the recent low of USD 630 on April 9th 2007
Up by USD 326 per tonne from the recent low of USD 560 on August 13th 2007
China
USD 408 per metric tonne ex works
Down by USD 50 per tonne from USD 458 two weeks ago
Down by USD 325 per tonne from the peak of USD 733 on July 14th 2008
Down by USD 79 per tonne from the previous high of USD 487 on September 10th 2007
Down by USD 62 per tonne from the recent low of USD 470 on October 22nd 2007
Western Europe
USD 852 per metric tonne ex works
Down by USD 68 per tonne from USD 920 two weeks ago
Down by USD 352 per tonne from the peak of USD 1,204 on July 14th 2008
Up by USD 156 per tonne from the previous high of USD 696 on June 11th 2007
Up by USD 189 per tonne from the recent low of USD 663 on July 23rd 2007
World Export Price
USD 702 per metric tonne FOB the port of export
Down by USD 97 per tonne versus USD 799 two weeks ago
Down by USD 441 per tonne from the peak of USD 1,113 on July 28th 2008
Up by USD 106 per tonne from the recent low of USD 596 on March 26th 2007
Up by USD 152 per tonne from the previous high of 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.