Iron Ore Price Up

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.02) and a low price of CNY 830.00 ($135.39) per dry metric ton. After three straight days of no change, the price of Chinese slab decreased by 0.6 percent to CNY 3,590 ($585.59) per metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining around CNY 3,430 ($559.49) per metric ton.

Also on the LME, the steel billet cash price saw little change in its price yesterday at $130.00 per metric ton. On the LME, the steel billet 3-month price held steady around $150.00 per metric ton.

The US HRC futures contract 3-month price showed little movement on Monday at $605.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $600.00 per short ton.

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