Small Drift for The 3-Month Price of US HRC Futures

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Dropping 1.1 percent, the 3-month price of the US HRC futures contract was the biggest mover on March 15, 2013, closing at $618.00 per short ton. The spot price of the US HRC futures contract held steady around $610.00 per short ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.16) and a low price of CNY 830.00 ($133.55) per dry metric ton. After a couple of days of decreasing prices, the price of Chinese HRC held steady at CNY 3,870 ($622.70). The price of Chinese coking coal held steady at CNY 1,750 ($281.58) per metric ton.

Also on the LME, the steel billet cash price saw little change in its price last Friday at $210.00 per metric ton. The steel billet 3-month price showed little movement last Friday on the LME at $250.00 per metric ton.