Strengthening prices ended a three-day flat streak as the cash price of steel billet moved up by 2.3 percent on Thursday, October 31 on the LME to $220.00 per metric ton. The 3-month price of steel billet saw little movement on the LME at $230.00 per metric ton.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.85) and a low price of CNY 830.00 ($136.21) per dry metric ton. The price of Chinese HRC held steady at CNY 3,450 ($566.16) per metric ton. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,370 ($224.82) per metric ton.
The 3-month price of the US HRC futures contract saw little movement yesterday at $655.00 per short ton. The spot price of the US HRC futures contract continues hovering around $651.00 per short ton for the fifth day in a row.