PRICE INDEX GRAPHS
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PRICE INDEX GRAPHS |
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1 Asian Steel Prices Generally
2 Asian Hot Rolled Coil Steel Prices
3 Asian Galv Coil Steel Prices
Notes to Graphs
The CRU SPI is taken directly from the CRU Steel Price Index at www.steelpriceindex.com. It is calculated for different regions (Asia/Europe/USA) and for different product groups. The main product groups are HR Coil, Galv Coil, Reinforcing Bar and Beams. See this site for a full explanation as to how this is calculated. CRU 'S home page is at www.cru.co.uk
The Australian Import Index (AII) makes a simple assumption that half of the import price for steel is Australia is influenced by the base manufacturing price and half is influenced by the value of the US dollar when converted back into Australian dollars. The base year is the second quarter of 1994 which is equal to 100. This means that if international prices fall and the value of the Australian dollar against the US Dollar also falls by a similar amount, then the Australian Import Index would remain stable even though international prices were falling. This index is merely a guide for imported prices as many factors beyond simply the value of the Australian dollar against the US$ and the FOB manufacturing costs impact on the cost of imported metals.
NOTES ON GRAPHS
These graphs start in April 1994 with both indexes equal to 100. At that time the Australian dollar was worth approx 71.5 US cents. All price graphs show the rise in 1995 as the Asian construction boom increased pricing levels. The price of steel fell in 1996 and even more in Australia as our dollar strengthened to close to 80 cents US. In 1997 our dollar began to fall and went through 70 cents towards the end of that year. This is reflected in Australian import prices becoming more expensive than international pricing levels. Australian import prices and international prices both fell in 1999 as our dollar stabilised in the low 60's but international prices fell substantially. The price rises in the year 2000 were steeper in the Australian import prices as they also reflected a depreciation in the value of the dollar to levels under 60 cents. The continuing fall in the Australian dollar to the lower 50's (and beyond) has meant that only a small part of the latest international price fall has flowed through to lower prices in Australia. It has also meant that in various cases Australian import prices now are more expensive than in early 1994 whereas international prices are much lower.
2 Asian Hot Rolled Coil Steel Prices
3 Asian Galv Coil Steel Prices
4 Asian Re-inforcing Bar Steel Prices
