The Spot Price of US HRC Steel Futures Moving Again

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The spot price of the US HRC futures contract closed March 1, 2013 at $614.00 per short ton, halting its two-day flat run with a 0.7 percent shift. The 3-month price of the US HRC futures contract remained essentially flat at $638.00 per short ton.

Chinese steel prices were mixed for the day. The high price of iron ore 58% fines from India inched closer to the $135 per dry metric ton level. The price of Chinese slab declined 0.5 percent. Chinese HRC held its value last Friday.

Following two days of downward movement, the steel billet cash price held steady at $240.00 per metric ton on the LME. On the LME, the 3-month price of steel billet remained essentially flat at $280.00 per metric ton.