Overseas
May 29, 2014
World Export vs. Domestic HRC Price Spread Down $10
Written by John Packard
In late May SteelBenchmarker reported their world export price for hot rolled steel at $501 per net ton ($552 per metric ton), unchanged from their price earlier in the month. With an estimated $70 per ton in freight, handling and trader margin added, that puts the world HRC price at approximately $571 per ton CIF USA Port. The latest Steel Market Update hot rolled price average is $675 per ton as of the end of the month but $10 per ton less than where we were during the middle of the month.
The theoretical spread between the world export price and the SMU US HRC price is now $174 per ton ($104 with freight costs included), $10 per ton less than what we reported during the middle of May.
