Chinese Slab Drops 0.3% After Flat Spell

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Commodities, Metal Prices, Premium

 The price of Chinese slab fell 0.3 percent on Friday, June 21 to CNY 3,580 ($583.90) per metric ton, making it the day’s biggest mover. Chinese HRC held its value last Friday at CNY 3,450 ($562.70) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,410 ($229.97) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.00) and a low price of CNY 830.00 ($135.37) per dry metric ton.

The cash price of steel billet showed little movement last Friday on the LME at $125.00 per metric ton. The steel billet 3-month price saw little movement last Friday on the LME, closing out around $145.00 per metric ton.

The 3-month price of the US HRC futures contract was unchanged at $605.00 per short ton. For the fifth consecutive day, the spot price of the US HRC futures contract held flat at $600.00 per short ton.