Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India was range bound. Chinese slab prices inched up 0.6 percent. The price of Chinese HRC remained steady.
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.