On June 5, 2012, the day’s biggest mover on our steel price index was the 3-month price of US HRC futures, which saw a 1.2 percent decline to $642 per short ton. The spot price of US HRC futures contract held steady on Tuesday, remaining around $630 per short ton.
Chinese steel prices and raw materials prices were mostly flat for the day, following a general dip over the past month.
The high and low prices of iron ore 58% fines from India stayed in the $130-$135 per dry metric ton range. For the fifth consecutive day, the price of Chinese HRC held flat at above $650 per metric ton. The price of Chinese coking coal saw little movement as well.
The cash price of steel billet saw little price change on Tuesday on the LME at $390 per metric ton. The steel billet 3-month price remained essentially flat on the LME at $400 per metric ton.