Strengthening prices ended a two-day flat streak as the US HRC futures contract 3-month price moved up by 0.8 percent on July 2, 2012 to $630 per short ton. The US HRC futures contract spot price held steady at $620 per short ton.
Chinese steel prices closed mixed on Monday. The price of iron ore 58% fines from India remained range bound in the low $130’s per dry metric ton. Monday saw the price of Chinese HRC drift down 0.2 percent after three quiet days. For the fifth consecutive day, the price of Chinese coking coal held flat.
Following a couple days of improvement, the cash price of steel billet weakened by 0.5 percent on the LME. Prices closed at $364 per metric ton. Also on the LME, the steel billet 3-month price fell 0.5 percent to $364 per metric ton.