Chinese HRC saw a 0.8 percent increase on Oct. 10, 2012, making it the biggest upwards shift of the day on our steel price index. For the fifth day in a row, the price of Chinese coking coal remained essentially flat. After a couple of days of improving prices, the price of Chinese slab held steady. The price of iron ore 58% fines from India remained tightly range-bound.
On the LME, the cash price of steel billet saw little movement yesterday at $339.00 per metric ton. Also on the LME, the 3-month price of steel billet remained essentially flat at $341.00 per metric ton.
The spot price of the US HRC futures contract fell 0.3 percent to $595.00 per short ton. The US HRC futures contract 3-month price showed little movement yesterday at $635.00 per short ton.