At $652.00 per short ton, the 3-month price of the US HRC futures contract moved up 2.7 percent on Friday, October 18, making it the day’s biggest mover. After a couple of days of improving prices, the US HRC futures contract spot price held steady at $650.00.
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 ($137.71) and a low price of CNY 830.00 ($136.07) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,500 ($573.79) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,370 ($224.60) per metric ton.
Also on the LME, the steel billet cash price showed little movement last Friday, hovering around $215.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $230.00 per metric ton.