Hot-roll band prices still sliding Benchmarker

Dec 24, 2008 | 09:25 AM |

The steady decline in hot-rolled band prices in most of the world continued over the past two weeks.

Hot band prices fell between 1.5 and 7 percent in the United States, western Europe and on the world export market, according to the SteelBenchmarker report released Wednesday, but prices increased in mainland China for the third consecutive time.

U.S. hot band prices were pegged at $592 per tonne ($537 per net ton), f.o.b. mill, in the report dated Dec. 22, down 3.6 percent from $614 per tonne ($557 per ton) two weeks earlier—the 10th consecutive decline—and down 50.8 percent from the peak price of $1,203 per tonne ($1,091 per ton) seen July 28 but still 5.7 percent ahead of the recent low of $560 per tonne ($508 per ton) reached Aug. 13, 2007.....

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