Daily China Coking Coal Price Back Up; Scrap Down on Weekly Steel Index

Daily Steel and Raw Material Input Prices

On Feb. 20, 2013, the day’s biggest mover was Chinese coking coal, which saw a 3.5 percent increase.

Meanwhile, the price of Chinese slab declined 0.2 percent.

Weekly Steel Roundup

The biggest mover on the weekly Raw Steels MMI® was the price of Korean steel scrap, which saw a 4.5 percent increase. This comes on the heels of a 4.3 percent decline the week prior.

Following a steady week, prices for Korean pig iron closed flat.

Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India remained rangebound. Chinese coking coal saw essentially no net change week-on-week. Chinese slab prices ticked up 2 percent over the past week. The price of Chinese HRC increased by a slight 0.7 percent over the past week.

The steel billet 3-month price shifted up 1.8 percent on the LME to close at $290.00 per metric ton this week. The steel billet cash price fell 0.7 percent on the LME to $265.00 per metric ton after rising 0.8 percent the week before.

For the third week in a row, the price of US shredded scrap dropped, falling 0.8 percent.

Following a 0.7 percent drop, the spot price of the US HRC futures contract finished the week at $611.00 per short ton. The 3-month price of the US HRC futures contract rose 0.5 percent to $640.00 per short ton after falling 0.5 percent during the previous week.