The Spot Price of US HRC Futures Contract Declines 1.5%

On Jan. 8, 2013, the day’s biggest mover was the spot price of the US HRC futures contract, which saw a 1.5 percent decline to $645.00 per short ton. The US HRC futures contract 3-month price moved on Tuesday. After a few changeless days, prices dropped 0.5 percent to $652.00 per short ton.

Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.81) and a low price of CNY 830.00 ($133.21) per dry metric ton. The price of Chinese HRC increased 1.5 percent to CNY 4,130 ($662.84) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,650 ($264.81) per metric ton.

The 3-month price of steel billet weakened by 0.4 percent on the LME, settling at $280.00 per metric ton. Also on the LME, the steel billet cash price remained essentially flat at $270.00 per metric ton.

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