Strengthening prices ended a three-day flat streak as the price of Chinese coking coal moved up by 2.9 percent on Tuesday, December 3 to CNY 1,430 ($234.71) per metric ton. Following three days of little change, the price of Chinese HRC rose by 1.7 percent to CNY 3,550 ($582.67) per metric ton. Chinese slab gained 0.6 percent to finish at CNY 3,540 ($581.03) per metric ton. 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.
Also on the LME, the steel billet cash price held steady around $240.00 per metric ton. The steel billet 3-month price saw little movement yesterday on the LME, closing out around $240.00 per metric ton.
The spot price of the US HRC futures contract inched up 1.5 percent to $676.00 per short ton. The 3-month price of the US HRC futures contract declined 0.5 percent to $649.00 per short ton.