Chinese HRC Price Moving Again, US Futures Down

On Aug. 28, 2012, the day’s biggest mover on MetalMiner’s daily steel price index was the price of Chinese HRC, which saw a 2.3 percent decline.

The price of Chinese slab fell 1.7 percent. The price of Chinese coking coal saw essentially no change for the fifth day in a row, and the high/low prices of iron ore 58% fines from India remained within a very tight range about the $130 per dry metric ton mark.

The steel billet cash price held steady on Tuesday on the LME, remaining around $350.00 per metric ton. Also on the LME, the steel billet 3-month price saw little change in its price on Tuesday at $350.50 per metric ton.

The US HRC futures contract 3-month price has been on the decline for 11 days and is now at $630.00 per short ton. The US HRC futures contract spot price continues hovering around $645.00 per short ton for the fifth day in a row.

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