Chinese Coking Coal Weakens 2.2%

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The price of Chinese coking coal fell 2.2 percent on March 12, 2013 to CNY 1,750 ($281.23) per metric ton, making it the day’s biggest mover. The price of Chinese HRC moved yesterday. After a few changeless days, prices dropped 1.0 percent to CNY 4,010 ($644.41) per metric ton. The price of Chinese slab continues hovering around CNY 3,920 ($629.95) per metric ton for the fifth day in a row. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.99) and a low price of CNY 830.00 ($133.38) per dry metric ton.

Also on the LME, the steel billet cash price showed little movement on Tuesday, hovering around $210.00 per metric ton. The steel billet 3-month price saw little movement on Tuesday on the LME, closing out around $230.00 per metric ton.

The 3-month price of the US HRC futures contract saw little change in its price yesterday at $635.00 per short ton. The US HRC futures contract spot price saw little movement yesterday at $612.00 per short ton.