At $245.00 per metric ton, the steel billet 3-month price moved up 2.1 percent on Monday, October 7, making it the day’s biggest mover on the LME. After a 0.2 percent increase, the steel billet cash price finished the day on the LME at $220.00 per metric ton.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.36) and a low price of CNY 830.00 ($135.73) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 3,500 ($572.34) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,370 ($224.03) per metric ton for the fifth day in a row.
The US HRC futures contract 3-month price held steady on Monday, remaining around $640.00 per short ton. The US HRC futures contract spot price remained essentially flat at $648.00 per short ton.