Chinese HRC Moves Up 1.7% on Daily Index

Chinese HRC saw a 1.7 percent increase on Sept. 19, 2012 on our daily steel price index, making it the biggest upwards shift of the day.

For the fifth consecutive day, the price of Chinese coking coal held flat. Chinese slab held its value yesterday, and the high and low prices of iron ore 58% fines from India have not changed markedly for days.

On the LME, the cash price of steel billet fell 0.6 percent to $318.00 per metric ton. The steel billet 3-month price weakened by 0.6 percent on the LME, settling at $323.00 per metric ton.

After three essentially changeless days, the 3-month price of the US HRC futures contract dropped 0.7 percent yesterday to $606.00 per short ton. The spot price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $640.00 per short ton.

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