US HRB Price Jumps Higher
The US hot-rolled band (HRB) price rose by $46/t in the two weeks to 27 January to $1,143/t, its strongest level since August 2008, according to the latest SteelBenchmarker from World Steel Dynamics. This brought gains since the start of the 4q20 to over $520/t.
The Western European HRB price also rose, up $5/t to $821/t, the highest level since May 2011.
Meanwhile, the Chinese HRB price fell by $20/t over the past two weeks to $585/t, although was still up $118/t on the year-ago level.