Chinese Coking Coal Price Breaks Flat Spell
The price of Chinese coking coal fell 8.8 percent on April 12, 2013 to CNY 1,550 ($250.07) per metric ton, making it the day’s biggest mover. The price of Chinese HRC remained steady at CNY 3,880 ($625.99) per metric ton. The price of Chinese slab saw essentially no change for the fifth day in a row, remaining around CNY 3,840 ($619.54) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.52) and a low price of CNY 830.00 ($133.91) per dry metric ton.
On the LME, the 3-month price of steel billet declined 2.7 percent to $180.00 per metric ton. Also on the LME, the cash price of steel billet held steady around $160.00 per metric ton.
The US HRC futures contract spot price fell 1.2 percent last Friday to $601.00 per short ton. The US HRC futures contract 3-month price flattened at $613.00 per short ton after two days of downward movement.