World Bank figures: Global steel prices hovering

World Bank figures: Global steel prices hovering

The World Bank released its monthly commodity price report for June. According to the report, the average price of Australian coal for May 2005 increased just $.06/mt month on month to $53.06/mt. The average price of Australian coal for the first three months of the year was $53.04/mt. The price of CVRD Carajas sinter feed iron ore FOB Ponta da Madeira for Europe in May remained as $0.65/dmtu. The prices of steel products included in the Japanese petroleum index (1990=100) remained unchanged at 141.4 points in May. Eight products –rebar, merchant bar, wire rod, section (H-shape), medium plate, hot-rolled coil sheet, cold-rolled coil sheet and galvanized iron sheet– are included in the calculation. The average price of cold-rolled coil sheet was $750/mt in May, while that of hot-rolled was $650/mt. Both prices were unchanged from April. The average prices of rebar and wire rod did not change either. Rebar was $430/mt in May, while wire rod was $550/mt. On the other hand, the World Bank's metals and minerals price index for low and middle income countries (1990=100) regressed to 136.7 points, down 3.2% from April 2005.