On Tuesday, the day’s biggest mover on the raw materials index was the steel billet cash price, which saw a 3.7 percent decline on the LME to $130.00 per metric ton. After two changeless days, the steel billet 3-month price fell 3.2 percent on the LME to $150.00 per metric ton.
Chinese steel prices closed flat for the day. The price of Chinese HRC held steady. The price of Chinese coking coal saw essentially no change for the fifth day in a row,
The spot price of the US HRC futures contract inched up 2.2 percent to $603.00 per short ton. The US HRC futures contract 3-month price showed little movement on Wednesday, hovering around $605.00 per short ton.
FREE Download: The most recent Monthly MMI® Report – price trends for 10 metal markets!