China Steel Prices Up
The price of Chinese HRC increased by 2.2 percent on Oct. 8, 2012, making it the day’s biggest mover on MetalMiner’s steel price index.
The price of Chinese slab rose by 1.7 percent after a three-day flat streak. For the fifth consecutive day, the price of Chinese coking coal held flat. The prices of iron ore 58% fines from India remained range-bound.
What About LME and US Steel Prices?
On the LME, the steel billet cash price increased 0.6 percent to $340.00 per metric ton. Also on the LME, the 3-month price of steel billet inched up 0.6 percent to $350.00 per metric ton.
The US HRC futures contract 3-month price gained 1.3 percent to finish at $638.00 per short ton. The US HRC futures contract spot price weakened by 0.3 percent, settling at $596.00 per short ton.
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