US Steel Corp Workers Coming Back; China Hot-Rolled Coil Price Up

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US Steel Corp workers at one of the company’s Canadian operations are coming back to work very soon, while ThyssenKrupp may keep its SteelAmericas asset.

“The [US Steel Lake Erie Works] lockout, which started on April 28 and affected about 1,000 workers, shut down raw steel production at the Canadian mill and weighed on the steelmaker’s second-quarter results,” according to Reuters.

Meanwhile, sources told Reuters that ThyssenKrupp may end up keeping SteelAmericas: “‘Plan B is to keep the plants,’ the person told Reuters following a meeting of ThyssenKrupp’s supervisory board on Tuesday. Holding on to the plants is just one of several options, the source said.”

On Tuesday, September 3, the day’s biggest mover on MetalMiner’s prices index was Chinese HRC, which saw a 1.1 percent increase.

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The price of Chinese slab declined 0.3 percent. For the fifth day in a row, the price of Chinese coking coal remained essentially flat. The prices of iron ore 58% fines from India inched a tiny bit higher.

The steel billet cash price remained essentially flat on the LME at $140.00 per metric ton. On the LME, the steel billet 3-month price saw little movement yesterday at $160.00 per metric ton.

After two changeless days, the spot price of the US HRC futures contract fell 0.6 percent to $645.00 per short ton. The US HRC futures contract 3-month price held steady around $628.00 per short ton.

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