Raw Steels MMI®: The 3-month Price of US HRC Futures Contract Rises 2.7% for the Week

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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 ($137.86) and a low price of CNY 830.00 ($136.22) per dry metric ton. After a 0.6 percent decline, Chinese HRC closed out the week at CNY 3,480 ($571.13) per metric ton. The price of Chinese slab fell 0.6 percent to CNY 3,500 ($574.41) per metric ton after rising 0.9 percent the week before. At CNY 1,370 ($224.84) per metric ton, the price of Chinese coking coal did not change since the previous week.

On the LME, the 3-month price of steel billet closed at $230.00 per metric ton after a flat week. The steel billet cash price stayed essentially flat on the LME at $215.00 per metric ton.

Korean steel prices were flat for the week. At KRW 315,000 ($296.50) per metric ton, the week finished with no movement for Korean steel scrap. Korean pig iron remained essentially flat from the previous 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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