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World HRB price may bottom as soon as September 2007.
The world export price for hot-rolled band bottoms out in September 2007 at about $515-540 per tonne, FOB the port of export. Since its peak in March 2007 at $596 per tonne, the price is now down to about $571 per tonne based on the June 13, 2007 SteelBenchmarkerTM survey. If our forecast proves to be correct, the price would bottom out for the fifth consecutive time at a level well above the prior low.
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