The day’s biggest mover on our steel price index broke away from a static phase with a 1.4 percent drop on Sept. 11, 2012. After three changeless days, the US HRC futures contract spot price closed at $640.00 per short ton. The US HRC futures contract 3-month price rose 0.8 percent to $605.00 per short ton.
Meanwhile, Chinese steel prices closed flat for the day. For one, the high and low price of iron ore 58% fines from India did not fluctuate significantly, remaining range-bound under $135 per dry metric ton. Chinese HRC held its value on Tuesday above $500 per metric ton. The price of Chinese coking coal is still holding steady.
The LME steel billet cash price saw little price change on Tuesday at $320.00 per metric ton. The 3-month price of steel billet remained essentially flat on the LME at $325.00 per metric ton.