Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.36) and a low price of CNY 830.00 ($136.71) per dry metric ton. At CNY 3,490 ($574.86) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,430 ($235.54) per metric ton.
The steel billet cash price saw little movement yesterday on the LME, closing out around $260.00 per metric ton. The steel billet 3-month price ended a two-day climb, settling at $260.00 per metric ton on the LME.
The 3-month price of the US HRC futures contract showed little movement yesterday, hovering around $645.00 per short ton. The spot price of the US HRC futures contract saw little movement at $676.00 per short ton.