Chinese and US Steel Prices Continue to Slide

Steel

The Chinese domestic price for hot rolled band (HRB) continued to fall, in losing $7/t in the three weeks to 16 December to $231/t, its lowest price in over 16 years, according to the latest SteelBenchmarker from World Steel Dynamics. The US domestic HRB price declined by $5/t over the same period to $412/t, the lowest price since December 2003. Meanwhile, the Western European HRB price rose for the first time since late August, up $7/t to $353/t.