US HRC Futures Spot Price Drops 3% on Daily Steel Price Index

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The US HRC futures contract spot price saw a 3.2 percent drop on July 13, 2012, landing at $605 per short ton and making it the biggest mover of the day on MetalMiner’s daily steel price index. The 3-month price of the US HRC futures contract held steady last Friday, remaining around $638 per short ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India remained range-bound, unchanging from last week’s figures. Chinese HRC stayed flat, north of $600 per metric ton. The price of Chinese coking coal was unchanged as well.

The steel billet cash price ended a two-day climb, settling at $380 per metric ton on the LME. Also on the LME, the steel billet 3-month price held steady around $390 per metric ton.

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