On Nov. 16, 2012, the day’s biggest mover on our steel price index was the 3-month price of the US HRC futures contract, which saw a 0.2 percent decline to $660.00 per short ton.
Meanwhile, the spot price of the US HRC futures contract continues hovering around $618.00 per short ton for the fifth day in a row.
Chinese steel prices were flat for the day. Iron ore 58% fines from India hit a high and low price in a tight range below $135 per dry metric ton. The price of Chinese HRC was essentially unchanged. The price of Chinese coking coal remained essentially flat as well.
The steel billet cash price steadied at $300.00 per metric ton following two days of dropping prices on the LME. Also on the LME, the steel billet 3-month price held steady around $300.50 per metric ton.