US HRC Steel Futures Spot Price Still Dropping on MetalMiner IndX℠

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The spot price of the US HRC futures contract fell 2.4 percent on July 6, 2012, making it the day’s biggest mover on our daily steel price index. After three days of flat prices, it closed at $605 per short ton.

At $625, the US HRC futures contract 3-month price finished the market day up 0.8 percent per short ton.

Chinese steel prices and raw materials, meanwhile, were flat for the day.

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 remained steady, north of $625 per metric ton. The price of Chinese coking coal continues hovering at the same price point for the fifth day in a row.

On the LME, the steel billet cash price inched up 0.5 percent to $385 per metric ton. Also on the LME, the steel billet 3-month price rose 0.5 percent to $395 per metric ton.

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