Chinese HRC Down 0.7 Percent

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Weakening prices ended a three-day flat streak as the price of Chinese HRC fell 0.7 percent on June 26, 2012 to between $640-650 per metric ton. The price of Chinese coking coal continues to hover at the $270-$280 per metric ton range for the fifth day in a row. For the fifth day in a row, the price of Chinese slab remained essentially flat. The price of iron ore 58% fines from India stayed range bound in the low $130/dry metric ton.

The steel billet cash price ended a two-day climb, settling at $360 per metric ton on the LME. The 3-month price of steel billet showed little movement on Tuesday on the LME at $360 per metric ton.

The 3-month price of US HRC futures contract held steady around $630 per short ton. The US HRC futures contract spot price was unchanged at $620 per short ton.

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