China Hot-Rolled Coil, Slab Prices Drop, Iron Ore Up on Daily Steel Index

Chinese steel prices were mixed for the day, as the prices of iron ore 58% fines from India hit very slightly higher. After three straight days of no change, however, the price of Chinese HRC decreased by 0.6 percent.

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Chinese slab ended the day after a 0.5 percent drop on Thursday.

Also on the LME, the cash price of steel billet saw little change in its price on Thursday at $150.00 per metric ton. The steel billet 3-month price remained essentially flat on the LME at $175.00 per metric ton.

The 3-month price of the US HRC futures contract held steady yesterday, remaining around $623.00 per short ton. The US HRC futures contract spot price saw little movement yesterday, closing out around $642.00 per short ton.

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