Chinese HRB Price Stabilises

Steel

After falling throughout March and much of April, the Chinese domestic price for hot rolled band (HRB) increased by $8/t in the two weeks to 10 May to $379/t, according to the latest SteelBenchmarker from World Steel Dynamics. There was also a modest $5/t rise in the Western European HRB price over the same period to $585/t. By contrast, the US HRB price fell by $18/t to $686/t, the lowest level since the start of March however, it is still $190/t above the world export price.