Hot band tags march higher, China lagging Benchmarker

Dec 26, 2007 | 02:39 PM |

Steel prices are heating up as the year comes to a close, according to the latest pricing report from SteelBenchmarker. Hot band prices posted gains in the United States, the world export market and in Western Europe, though China bucked the trend.

U.S. prices for hot bands rose for the fourth consecutive time and now stand at $621 a tonne, f.o.b. the mill. That's up $15 (2.5 percent) from the $606 a tonne recorded two weeks ago.

The increase follows back-to-back announcements by U.S. steel producers of their plans to boost prices on hot-rolled, cold-rolled and coated sheet products. Producers sought increases ranging from $30 to $40 a ton effective Jan. 1, and backed that up with announcements of $30-a-ton increases for Feb. 1 shipments.....

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