Raw Steels Prices Still Quiet

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 ($137.18) and a low price of CNY 830.00 ($135.54) per dry metric ton. Chinese HRC saw little change in its price on Tuesday at CNY 3,470 ($566.66) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,420 ($231.89) per metric ton.

Also on the LME, the steel billet cash price remained essentially flat at $125.00 per metric ton. After a couple of days of decreasing prices on the LME, the 3-month price of steel billet held steady at $150.00.

The US HRC futures contract 3-month price saw little movement on Tuesday at $600.00 per short ton. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $578.00 per short ton.

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