The 3-month Price of US HRC Futures Contract Down 1.1%

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Commodities, Metal Prices, Premium

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 of CNY 840.00 ($135.21) and a low price of CNY 830.00 ($133.60) per dry metric ton. The price of Chinese slab fell 0.3 percent to CNY 3,840 ($618.12) per metric ton. For the fifth consecutive day, the price of Chinese HRC held flat at CNY 3,940 ($634.22) per metric ton.

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.