World Bank figures: Slight change in April steel prices

World Bank figures: Slight change in April steel prices

The World Bank released its monthly commodity price report for April. According to the report, the average price of Australian coal for April 2005 increased just c33/mt month on month to $53.00/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 March remained as c65.00 /dmtu. The prices of steel products included in the Japanese petroleum index (1990=100) rose from 136.9 points in March to 141.4 points in April, a 3.2% gain. 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. Average cold rolled coil sheet prices in April came out to $750/mt, a 5.26% increase from March's $712.5/mt average. The quarterly average price of cold rolled coil sheet, was $683.3 in the first quarter. Prices of hot rolled coil sheet were $650/mt in April, a 6.1% increase from $612.5/mt in March. The average hot rolled coil price of the first quarter was $583.3/mt. The average price of rebar increased to $430/mt in April. The price was $407.5/mt in March. The price of steel wire rod continued to remain at an average $550/mt, unchanged since July 2004. On the other hand, the World Bank's metals and minerals price index for low and middle income countries (1990=100) regressed to 138.0 points, down almost 3.1% from March 2005. The index had also showed 138.0 points back in February.