Raw Steels Mmi in a Lull

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Commodities, Metal Prices, Premium

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.18) and a low price of CNY 830.00 ($135.55) per dry metric ton. The price of Chinese HRC saw little movement at CNY 3,500 ($571.58) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,370 ($223.73) per metric ton.

The steel billet cash price showed little movement last Friday on the LME at $219.50 per metric ton. The steel billet 3-month price ended a two-day climb, settling at $240.00 per metric ton on the LME.

Following a two-day rise, the US HRC futures contract 3-month price flattened at $640.00. The US HRC futures contract spot price flattened at $648.00 after two days of improvement.

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