Raw Steels MMI® Flat Again
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 ($136.67) and a low price of CNY 830.00 ($135.04) per dry metric ton. Chinese HRC stayed flat at around CNY 3,630 ($590.61) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,420 ($231.04) per metric ton for the fifth day in a row.
Also on the LME, the steel billet cash price remained essentially flat at $125.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $155.00 per metric ton.
The 3-month price of the US HRC futures contract was unchanged at $607.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $583.00 per short ton.