Chinese HRC steel saw a 1.3 percent increase on Nov. 9, 2012, making it the biggest upwards shift of the day on MetalMiner’s steel price index.
For the fifth consecutive day, the price of Chinese coking coal held flat. Chinese steel slab held its value last Friday. The prices of iron ore 58% fines from India failed to move significantly enough on the day.
On the LME, the cash price of steel billet held steady around $300.00 per metric ton. The LME steel billet 3-month price saw little change last Friday at $310.00 per metric ton.
The 3-month price of the US HRC futures contract remained essentially flat at $650.00 per short ton. The spot price of the US HRC futures contract continues hovering around $618.00 per short ton for the fifth day in a row.