For Aug. 8, 2012, Chinese HRC traded sideways, keeping above $575 per metric ton. The price of Chinese coking coal was unchanged; same can be said for the price of Chinese slab. The high and low prices of iron ore 58% fines from India held pat yesterday as well.
After dropping for two days on the LME, the cash price of steel billet flattened at $351. The 3-month price of steel billet flattened at $353 following two-days of declines on the LME.
The US HRC futures contract 3-month price was flat at $645 per short ton. The US HRC futures contract spot price held steady on Wednesday, remaining around $640 per short ton.