After Flat Days, Chinese Billet Drops 3.8%

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Commodities, Metal Prices, Premium

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.77) and a low price of CNY 830.00 ($135.14) per dry metric ton. Chinese HRC saw little change in its price yesterday at CNY 3,580 ($582.91) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,420 ($231.21) per metric ton.

At $130.00 per metric ton, the steel billet cash price on the LME was down 3.7 percent from the previous market day. The steel billet 3-month price showed little movement yesterday on the LME at $160.00 per metric ton.

The 3-month price of the US HRC futures contract showed little movement on Monday, hovering around $595.00 per short ton. The spot price of the US HRC futures contract held steady around $578.00 per short ton.