Rising 5.7 percent to close at $632.00 per short ton, the US HRC futures contract spot price experienced the biggest change for Monday, July 1. The US HRC futures contract 3-month price held steady around $620.00 per short ton.
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 ($136.77) and a low price of CNY 830.00 ($135.14) per dry metric ton. The price of Chinese slab finished the day at CNY 3,580 ($582.89) per metric ton following a 0.3 percent increase. The price of Chinese HRC held steady at CNY 3,450 ($561.72) per metric ton.
Also on the LME, the steel billet cash price remained essentially flat at $130.00 per metric ton. On the LME, the 3-month price of steel billet saw little movement on Monday at $160.00 per metric ton.