Strengthening prices ended a three-day flat streak as the price of Chinese steel slab moved up by 5.9 percent on Jan. 9, 2013, on MetalMiner’s daily steel price index.
After a couple of days of improving prices, the price of Chinese HRC held steady. The price of Chinese coking coal saw essentially no change for the fifth day in a row. The high price of iron ore 58% fines from India nearly hit $135 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.