Raw Steels MMI®: Us Shredded Scrap Finishes Week With 3.1% Increase

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Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.87) and a low price of CNY 830.00 ($136.22) per dry metric ton. In the past week, Chinese HRC saw its price shift up 2.3 percent to CNY 3,540 ($581.01) per metric ton. Chinese coking coal rose 1.5 percent over the past week to CNY 1,390 ($228.14) per metric ton. The price of Chinese slab fell 0.3 percent to CNY 3,510 ($576.08) per metric ton after rising 1.1 percent the week before.

On the LME, the 3-month price of steel billet remained steady from the previous week at $235.00 per metric ton. This past week, the cash price of steel billet kept quiet, holding at on the LME at $235.00 per metric ton.

Korean steel prices were flat for the week. Korean steel scrap remained essentially flat from the previous week at KRW 315,000 ($297.10) per metric ton. At KRW 635,000 ($567.52) per metric ton, the week finished with no movement for Korean pig iron.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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