Raw Steels Mmi Drops 2.4% After Flat

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.93) and a low price of CNY 830.00 ($136.28) per dry metric ton. The price of Chinese HRC remained steady at CNY 3,540 ($581.26) per metric ton. Chinese coking coal stayed flat at around CNY 1,390 ($228.23) per metric ton.

Following a couple of essentially changeless days, the steel billet 3-month price rose by 2.1 percent on the LME, closing at $240.00 per metric ton. Also on the LME, the steel billet cash price remained essentially flat at $230.00 per metric ton.

The 3-month price of the US HRC futures contract rose 0.8 percent to $660.00 per short ton. The US HRC futures contract spot price saw little movement on Monday at $667.00 per short ton.

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