Chinese HRC Flat Again

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On Dec. 31, 2012, Chinese HRC saw little change in its price of CNY 4,000 ($641.89) per metric ton. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,650 ($264.78) per metric ton. The price of Chinese slab remained essentially flat at CNY 3,730 ($598.56) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.80) and a low price of CNY 830.00 ($133.19) per dry metric ton.

The steel billet cash price remained essentially flat on the LME at $280.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $295.00 per metric ton.

The 3-month price of the US HRC futures contract has been on the rise for 10 days and is now at $655.00 per short ton. The US HRC futures contract spot price has been on the rise for 14 days and is now at $650.00 per short ton.

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