China HRC Price Down

The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.29) and a low price of CNY 830.00 ($135.66) per dry metric ton. After three straight days of no change, the price of Chinese HRC decreased by 0.6 percent to CNY 3,600 ($588.39) per metric ton. Chinese slab ended the day at CNY 3,620 ($591.66) per metric ton, after the 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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