Strengthening prices ended a three-day flat streak as the US HRC futures contract 3-month price moved up by 0.8 percent on Wednesday, May 22 to $600.00 per short ton. The US HRC futures contract spot price saw little movement yesterday, closing out around $578.00 per short ton.
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 ($136.86) and a low price of CNY 830.00 ($135.23) per dry metric ton. The price of Chinese HRC held steady at CNY 3,580 ($583.29) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,420 ($231.36) per metric ton.
The cash price of steel billet showed little movement on Wednesday on the LME at $130.00 per metric ton. On the LME, the steel billet 3-month price saw little change in its price on Wednesday at $150.00 per metric ton.