Following a three-day flat streak, the price of Chinese HRC dropped by 0.6 percent to end at CNY 3,480 ($570.16) per metric ton on Monday, October 21. Chinese slab ended the day at CNY 3,500 ($573.43) per metric ton, after the 0.3 percent drop yesterday. The price of Chinese coking coal was unchanged at CNY 1,370 ($224.46) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.62) and a low price of CNY 830.00 ($135.99) per dry metric ton.
The cash price of steel billet saw little price change yesterday on the LME at $215.00 per metric ton. The steel billet 3-month price remained essentially flat on the LME at $230.00 per metric ton.
The 3-month price of the US HRC futures contract changed direction with a 0.3 percent drop. After two days of improving prices, the metal finished at $650.00 per short ton. The US HRC futures contract spot price saw little movement on Monday at $650.00 per short ton.