Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.90) and a low price of CNY 830.00 ($135.27) per dry metric ton. After two changeless days, the price of Chinese HRC fell 1.5 percent to CNY 3,390 ($552.48) 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 ($231.42) per metric ton.
The cash price of steel billet held steady yesterday on the LME, remaining around $130.00 per metric ton. The steel billet 3-month price showed little movement on Monday on the LME at $150.00 per metric ton.
For the fifth consecutive day, the 3-month price of the US HRC futures contract held flat at $600.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $578.00 per short ton.