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US Steel Price Plunges

Steel

The US domestic price for hot rolled band (HRB) plunged by $31/t in the two weeks to 25 November to $417/t, its lowest level since the end of 2003, according to the latest SteelBenchmarker from World Steel Dynamics. There was a similarly sharp fall, of $21/t, in the Western European domestic HRB price over the same period to a twelve-year low of $346/t. Meanwhile, the Chinese HRB price dropped to its lowest level since the current data series began in January 2000 at $238/t, down $6/t.