US hot band leads world with 7.1% steel price increase

Dec 29, 2010 | 12:03 PM | Corinna Petry

Global hot band prices continued to climb as the year drew to a close, led by a 7.1-percent jump in the United States, according to SteelBenchmarker's latest report.

The world export price for hot band increased 5.8 percent from mid-December, Chinese tags rose 2.9 percent and the Western European price moved 2.5 percent higher.

SteelBenchmarker's Dec. 27 report, released Wednesday, put U.S. hot band at $752 per tonne ($682 per net ton) vs. $702 per tonne ($637 per ton) two weeks earlier, while cold-rolled coil climbed 5.6 percent to $861 per tonne ($781 per ton) from $815 per tonne ($739 per ton). U.S. steel prices are chasing scrap tags shredded scrap rose 1.8 percent....

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