The day’s biggest mover on MetalMiner’s steel price index broke away from a static phase with a 3.1 percent drop on Aug. 27, 2012. After three changeless days, the 3-month price of the US HRC futures contract closed at $630.00 per short ton. The US HRC futures contract spot price saw little movement at $645.00 per short ton.
Meanwhile, Chinese steel prices and raw materials prices closed flat for the day.
The high and low prices of iron ore 58% fines from India held above $130 per dry metric ton. The price of Chinese HRC showed little movement on Monday, holding north of $550 per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.
On the LME, the cash price of steel billet rose 2.9 percent to $350.00 per metric ton. Also on the LME, the 3-month price of steel billet rose 1.6 percent to $350.50 per metric ton.
Check out the steel prices we have on the MetalMiner IndX℠ if you haven’t already.