Prices Increase for Chinese Slab

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Strengthening prices ended a three-day flat streak as the price of Chinese slab moved up by 5.9 percent on Jan. 9, 2013 to CNY 3,950 ($634.34) per metric ton. After a couple of days of improving prices, the price of Chinese HRC held steady at CNY 4,130 ($663.24). The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,650 ($264.98) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.90) and a low price of CNY 830.00 ($133.29) per dry metric ton.

On the LME, the cash price of steel billet gained 1.9 percent to finish at $275.00 per metric ton. The steel billet 3-month price flattened at $280.00 following two-days of declines on the LME.

The 3-month price of the US HRC futures contract saw little price change yesterday at $652.00 per short ton. The US HRC futures contract spot price saw little movement yesterday at $645.00 per short ton.

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