United States Steel Corporation announced a few executive management changes that they will be making starting January 1. According to the company’s press release, these changes will include “naming John J. Quaid, vice president- Iron Ore; appoints Larry T. Brockway as senior vice president, chief risk officer and treasurer; Sharon K. Owen to retire from North American Flat-Rolled Operations.
In metal price news…
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India was range bound. 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.
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.