At $655 per short ton, the 3-month price of the US HRC futures contract moved up 1.6 percent on May 28, 2012, making it the day’s biggest mover on our daily steel price index. The spot price of the US HRC futures contract steadied at $662 per short ton following two days of dropping prices.
Chinese steel and raw material prices came in flat for May 28, 2012.
The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. The price of Chinese HRC showed little movement last Friday, while the price of Chinese coking coal held steady as well.
On the LME, the cash price of steel billet rose 1.4 percent to $385 per metric ton. At $386, the steel billet 3-month price finished the market day on the LME up 1.4 percent per metric ton.