Chinese steel closed mixed yesterday. 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 ($136.23) per dry metric ton. The price of Chinese slab moved on Monday. After a few changeless days, prices dropped 0.3 percent to CNY 3,500 ($574.44) per metric ton. The price of Chinese HRC remained essentially flat at CNY 3,500 ($574.44) per metric ton.
Also on the LME, the steel billet cash price showed little movement on Monday, hovering around $225.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $235.00 per metric ton.
After a 0.5 percent increase, the 3-month price of the US HRC futures contract finished the day at $658.00 per short ton. The US HRC futures contract spot price saw little movement on Monday at $668.00 per short ton.