With a decline of 4.0 percent on the LME to $95.00 per metric ton on Wednesday, July 17, the cash price of steel billet recorded the biggest decline of the day. The 3-month price of steel billet remained essentially flat on the LME at $120.00 per metric 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 ($135.85) and a low price of CNY 830.00 ($134.23) per dry metric ton. Following three days of little change, the price of Chinese HRC rose by 0.6 percent to CNY 3,590 ($580.58) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,370 ($221.56) per metric ton.
The 3-month price of the US HRC futures contract held steady around $610.00 per short ton. The spot price of the US HRC futures contract saw little movement at $635.00 per short ton.