The US HRC Futures Contract 3-Month Price Gaining Again

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The US HRC futures contract 3-month price closed Dec. 17, 2012 at $645.00 per short ton, halting its three-day flat run with a 0.8 percent shift. The spot price of the US HRC futures contract fell 0.2 percent to $642.00 per short ton.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.50) and a low price of CNY 830.00 ($132.90) per dry metric ton. The price of Chinese HRC was unchanged at CNY 3,920 ($627.67) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,700 ($272.20) per metric ton.

The steel billet cash price steadied at $290.00 per metric ton following two-days of dropping prices on the LME. The 3-month price of steel billet showed little movement on Monday on the LME at $300.00 per metric ton.

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