Demolition crews took care of an old AK Steel coke plant in Ashland, Ky., which closed back in 2011.
Meanwhile, the coking coal price in China didn’t move. The Chinese price of iron ore 58% fines from India inched higher than last week, remaining slightly more supported. The price of Chinese slab finished the day following a 1.4 percent increase. Chinese HRC stayed flat.
At $140.00 per metric ton, the cash price of steel billet moved up 3.7 percent on Friday, August 16, making it the day’s biggest mover on the LME. Also on the LME, the steel billet 3-month price price jumped 3.2 percent to $160.00 per metric ton.
The 3-month price of the US HRC futures contract declined 0.2 percent to $628.00 per short ton. The spot price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $648.00 per short ton.