US hot band prices still climbing: SteelBenchmarker

Dec 30, 2009 | 12:26 PM | Corinna Petry

Prices for flat-rolled steel increased in the United States and China and on world export markets as 2009 came to a close, but European prices declined slightly.

U.S. hot-rolled band rose 2.6 percent to reach $590 per tonne ($535 per ton) f.o.b. mill in the final week of 2009 from $575 per tonne ($522 per ton) two weeks earlier, led by rising scrap tags, according to SteelBenchmarker's Dec. 28 report, released Wednesday.

The U.S. price of shredded scrap rose 1.4 percent to $290 per ton from $286 in the Dec. 14 report, while No. 1 heavy melting scrap jumped 4.7 percent to $265 per ton from $253 in the same comparison and No. 1 busheling rose 2.8 percent to $327 per ton from $318.

Other U.S. steel products tracked by SteelBenchmarker also increased in the latest report, with cold-rolled coil inching up 0.3 percent to $708 per tonne ($642 per ton) from $706 per tonne ($640 per ton) two weeks earlier and standard plate rising 1.2 percent to $654 per tonne ($593 per ton) from $646 per tonne ($586 per ton).....