Chinese Steel Slab Climbs Out of Funk, US HRC Futures 3-Month Price Up

by MetalMiner IndX Reports on September 21, 2012

Style:    Category: Commodities, Ferrous Metals, Metal Prices, MetalMiner IndX

Strengthening prices ended a two-day flat streak as the price of Chinese slab moved up by 3.3 percent on MetalMiner’s steel price index on Sept. 20, 2012.

Chinese HRC prices rose 1.9 percent. The price of Chinese coking coal continues to hover unchanged for the fifth day in a row. The high and low prices of iron ore 58% fines from India rose marginally from the previous day.

On the LME, the cash price of steel billet rose 2.2 percent to $325.00 per metric ton. After falling for two days, the 3-month price of steel billet rose 1.2 percent on the LME to $327.00 per metric ton.

The 3-month price of the US HRC futures contract inched up 1.5 percent to $615.00 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $640.00 per short ton.

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