Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.83) and a low price of CNY 830.00 ($136.19) per dry metric ton. The price of Chinese slab gained 0.3 percent, finishing at CNY 3,520 ($577.58) per metric ton. The price of Chinese HRC saw little movement at CNY 3,490 ($572.66) per metric ton.
The steel billet cash price remained essentially flat on the LME at $240.00 per metric ton. On the LME, the steel billet 3-month price held steady around $240.00 per metric ton.
The US HRC futures contract 3-month price held steady yesterday, remaining around $652.00 per short ton. The spot price of the US HRC futures contract showed little movement on Monday, hovering around $666.00 per short ton.