Chinese HRB Price Gains

Steel

From a near three-year low of $402/t on 27 April, the Chinese hot-rolled band (HRB) price rose by $12/t in the two weeks to 11 May to $414/t, according to the latest SteelBenchmarker from World Steel Dynamics.

By contrast, the Western European price plunged by $21/t over the same period to the lowest level in over four years at $426/t. It has now fallen by more than $60/t over the past two months. Meanwhile, the US HRB price moved up by $9/t to $552/t.