US HRC Futures Contract 3-Month Price Drops

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The US HRC futures contract 3-month price experienced the biggest price decline on our daily steel price index, dropping 1.9 percent to close at $618.00 per short ton on Aug. 29, 2012. The US HRC futures contract spot price was unchanged at $645.00 per short ton.

Chinese steel closed mixed yesterday. The prices of iron ore 58% fines from India remained rangebound between $130 and $135 per dry metric ton. Chinese slab fell 0.9 percent on Wednesday. Chinese HRC saw little change in its price, holding under $550 per metric ton.

On the LME, the 3-month price of steel billet rose 1.3 percent to $355.00 per metric ton. The cash price of steel billet remained essentially flat on the LME at $350.00 per metric ton.

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