Chinese Coking Coal Climbs Out of Flat Spell

Strengthening prices ended a multi-day flat streak as the price of Chinese coking coal moved up by 4.2 percent on Jan. 14, 2013 to CNY 1,720 ($276.65) per metric ton. Monday saw the price of Chinese slab drift down 0.3 percent to CNY 3,940 ($633.73) per metric ton after a couple of stagnant days. Chinese HRC stayed flat at around CNY 4,130 ($664.29) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.11) and a low price of CNY 830.00 ($133.50) per dry metric ton.

On the LME, the steel billet cash price increased 1.7 percent to $294.00 per metric ton. At $296.00, the 3-month price of steel billet finished the market day on the LME up 1.7 percent per metric ton.

After remaining flat for three days, the spot price of the US HRC futures contract fell 0.9 percent on Monday to $639.00 per short ton. The US HRC futures contract 3-month price held steady around $650.00 per short ton.

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