HRB Prices Rise Further
The Chinese domestic price for hot rolled band (HRB) rose by $9/t in the two weeks to 30 August to a fresh four-and-a-half year high of $525/t, up by over $170/t year-on-year, according to the latest SteelBenchmarker from World Steel Dynamics. There were larger increases, of $14/t and $11/t, in the Western European and US domestic prices for HRB over the same period to $619/t and $694/t, respectively. The Western European HRB price is now at the highest level since April 2013. By contrast, the world export price for HRB slipped $6/t to $536/t.