On Monday, October 28, the day’s biggest mover was the price of Chinese HRC, which saw a 0.9 percent decline to CNY 3,450 ($567.03) per metric ton. Following a quiet couple of days, the price of Chinese slab fell 0.3 percent on Monday to CNY 3,490 ($573.61) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,370 ($225.17) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.06) and a low price of CNY 830.00 ($136.42) per dry metric ton.
Also on the LME, the cash price of steel billet held steady around $215.00 per metric ton. The steel billet 3-month price saw little price change yesterday on the LME at $230.00 per metric ton.
For the fifth day in a row, the US HRC futures contract 3-month price remained essentially flat at $650.00 per short ton. The US HRC futures contract spot price saw little movement on Monday, closing out around $651.00 per short ton.