Rising 1.6 percent to close at $655.00 per short ton, the US HRC futures contract 3-month price experienced the biggest change for Wednesday, October 30. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $651.00 per short ton.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.92) and a low price of CNY 830.00 ($136.28) per dry metric ton. Chinese slab finished the day down 0.3 percent to CNY 3,480 ($571.38) per metric ton. Chinese HRC stayed flat at around CNY 3,450 ($566.45) per metric ton.
The steel billet cash price saw little price change on Wednesday on the LME at $215.00 per metric ton. The 3-month price of steel billet remained essentially flat at $230.00 per metric ton on the LME.