Us Shredded Scrap Moving Again

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 ($137.89) and a low price of CNY 830.00 ($136.25) per dry metric ton. At CNY 3,540 ($581.10) per metric ton, the price of Chinese HRC was essentially unchanged. Chinese coking coal saw little change in its price yesterday at CNY 1,390 ($228.17) per metric ton.

On the LME, the steel billet cash price declined 2.2 percent to $225.00 per metric ton. Also on the LME, the steel billet 3-month price fell 2.1 percent to $235.00 per metric ton.

The US HRC futures contract 3-month price increased 0.6 percent to $664.00 per short ton. The spot price of the US HRC futures contract weakened by 0.3 percent, settling at $665.00 per short ton.

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