Raw Steels MMI®: The Spot Price of US HRC Futures Contract Rises 1.6% for the Week

Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.27) and a low price of CNY 830.00 ($135.64) per dry metric ton. The price of Chinese slab fell 0.6 percent over the past week to CNY 3,490 ($570.34) per metric ton. This was the third week in a row of declining prices. At CNY 3,500 ($571.97) per metric ton, the price of Chinese HRC did not change since the previous week. At CNY 1,370 ($223.89) per metric ton, the week finished with no movement for Chinese coking coal.

Finishing the fourth week of rising prices, the cash price of steel billet increased by 0.2 percent on the LME, finishing at $210.00 per metric ton. This past week, the 3-month price of steel billet kept quiet, holding at on the LME at $235.00 per metric ton.

Korean steel prices were flat for the week. Korean steel scrap traded sideways last week, hovering around KRW 335,000 ($311.60) per metric ton. Prices for Korean pig iron remained constant, closing the week at KRW 635,000 ($567.52) per metric ton.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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