The 3-month price of the US HRC futures contract closed March 27, 2013 at $618.00 per short ton, halting its three-day flat run with a 1.1 percent drift. The US HRC futures contract spot price remained essentially flat at $608.00 per short ton.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price stayed above $135 per dry metric ton. The price of Chinese slab fell 0.3 percent. For the fifth consecutive day, the price of Chinese HRC held flat.
Also on the LME, the steel billet cash price held steady around $195.00 per metric ton. On the LME, the 3-month price of steel billet saw little change in its price yesterday at $210.00 per metric ton.