Dropping 0.3 percent, the US HRC futures contract spot price was the biggest mover on Thursday, October 10, closing at $643.00 per short ton. The US HRC futures contract 3-month price flattened at $635.00 per short ton after two days of downward movement.
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 ($137.26) and a low price of CNY 830.00 ($135.62) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,500 ($571.90) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,370 ($223.86) per metric ton.
After dropping for two days on the LME, the steel billet cash price flattened at $210.00. The 3-month price of steel billet flattened at $235.00 following two-days of declines on the LME.