US Shredded Scrap Climbs Out of Flat Spell

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India were range bound. The price of Chinese HRC was essentially unchanged. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.

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The cash price of steel billet showed little movement on Monday on the LME at $260.00 per metric ton. The 3-month price of steel billet held steady yesterday on the LME, remaining around $260.00 per metric ton.

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The 3-month price of the US HRC futures contract saw little change in its price yesterday at $645.00 per short ton. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $676.00 per short ton.