The day’s biggest mover broke away from a static phase with a 0.2 percent jump on Thursday, August 1. After three changeless days, the US HRC futures contract spot price closed at $637.00 per short ton. Following two days of downward movement, the US HRC futures contract 3-month price held steady at $605.00 per short ton.
Chinese steel prices were flat for the day. The prices of iron ore 58% fines from India stayed a bit higher. Chinese HRC stayed flat. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.
The cash price of steel billet showed little movement on Thursday on the LME at $125.00 per metric ton. On the LME, the 3-month price of steel billet showed little movement yesterday, hovering around $155.00 per metric ton.