HRB Export Price May Erupt to An All Time High by a Sizable Margin

Steel mills in the driver’s seat

A steel shortage has been in effect since December 2007. In the past few weeks, price spikes have occurred for steel scrap (which directly impacts the price about 50% of finished steel products), for steel products in home-markets (although not in China) and steel products on the world export market. Steel slab for export now appears to be priced about $560 per tonne, FOB the port of export, up about $50 per tonne in the past month.

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