The steel billet cash price saw the biggest upwards shift for the day, rising on the LME to close at $175.00 per metric ton on Tuesday, June 25. The steel billet 3-month price jumped on the LME to finish at $190.00 per metric ton.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.71) and a low price of CNY 830.00 ($135.08) per dry metric ton. Chinese slab prices saw a 0.3 percent decline to CNY 3,570 ($581.01) per metric ton. The price of Chinese HRC held steady at CNY 3,450 ($561.48) per metric ton.
After a 0.5 percent increase, the 3-month price of the US HRC futures contract finished the day at $608.00 per short ton. The US HRC futures contract spot price continues hovering around $600.00 per short ton for the fifth day in a row.