BMW Launches New Mini; Korean Steel Scrap Climbs Out of Flat Spell

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BMW has unveiled a new version of their iconic Mini “as the world’s biggest luxury carmaker looks to retain its leadership in the lucrative high-end compact car market,” reports The Economic Times.

“The launch of the three-door hatchback took place at the Mini’s production plant in Cowley, Oxford, on the 107th anniversary of the birth of the Mini’s founding father Alex Issigonis. Prices will start at about 13,500 pounds ($21,700).”

“The car features a new grille, LEDs on the front lights, a steeper windscreen and a lower rear bumper. It will come with a choice of three new 3 or 4 cylinder engines with fuel consumption reduced by about 27 per cent, Schwarzenbauer said.”

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Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India was range bound. After three straight days of no change, the price of Chinese HRC decreased by 1.1 percent. The price of Chinese coking coal held steady.

Also on the LME, the cash price of steel billet saw little movement last Friday at $225.00 per metric ton. On the LME, the steel billet 3-month price showed little movement last Friday, hovering around $235.00 per metric ton.

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The US HRC futures contract 3-month price held steady last Friday, remaining around $655.00 per short ton. The spot price of the US HRC futures contract saw little price change last Friday at $668.00 per short ton.