Steel and Raw Materials Index: Chinese Slab, HRC Prices Rise on Week

Chinese steel slab was the biggest mover on the weekly Raw Steels MMI®, thanks to yesterday’s 5.9 percent increase.

current steel prices - MetalMiner IndXChinese HRC prices climbed by just more than $20 per metric ton over the week. Chinese billet remained essentially flat from the previous week. Chinese coking coal prices held steady. The high and low prices of iron ore 58% fines from India kept from moving much, staying in a tight range.

The steel billet cash price fell 1.4 percent on the LME over the past week to $275.00 per metric ton. This was the fourth week in a row of declining prices. This past week, the 3-month price of steel billet kept quiet, holding at on the LME at $280.00 per metric ton.

The spot price of the US HRC futures contract fell 1.5 percent to $645.00 per short ton after rising 2 percent the week before. The US HRC futures contract 3-month price fell 0.5 percent to $652.00 per short ton after rising 0.8 percent the week before.

Following a 1 percent increase in the week prior, the price of US shredded scrap fell 0.5 percent last week.

today's metal prices - MetalMiner IndXPrices for Korean steel were up for the week. Korean steel scrap rose 2.9 percent. Meanwhile, Korean pig iron saw its price rise 1.4 percent.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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