Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.09) and a low price of CNY 830.00 ($136.45) per dry metric ton. Chinese slab prices inched up 0.6 percent to CNY 3,610 ($593.48) per metric ton. The price of Chinese HRC remained steady at CNY 3,550 ($583.61) per metric ton.
The cash price of steel billet saw a 2.0 percent decline on the LME to $245.00 per metric ton. On the LME, the steel billet 3-month price inched up 2.0 percent to $255.00 per metric ton.
The 3-month price of the US HRC futures contract saw little price change yesterday at $650.00 per short ton. The US HRC futures contract spot price held steady around $676.00 per short ton.