Korean Steel Scrap Climbs Out of Flat Spell

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Commodities, Metal Prices, Premium

Chinese steel closed mixed last Friday. 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. After three straight days of no change, the price of Chinese HRC decreased by 1.1 percent to CNY 3,500 ($574.37) per metric ton. The price of Chinese coking coal held steady at CNY 1,390 ($228.11) per metric ton.

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.

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.

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