Chinese HRC saw a 0.6 percent drop on Tuesday, November 19, landing at CNY 3,480 ($571.09) per metric ton and making it the biggest mover of the day. The price of Chinese coking coal held steady at CNY 1,390 ($228.11) per metric ton. The price of Chinese slab remained steady at CNY 3,500 ($574.37) per metric ton. 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.
Also on the LME, the steel billet cash price held steady around $225.00 per metric ton. The 3-month price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $235.00 per metric ton.
The US HRC futures contract 3-month price saw little movement yesterday, closing out around $658.00 per short ton. The spot price of the US HRC futures contract showed little movement yesterday at $668.00 per short ton.