Following a three-day flat streak, the US HRC futures contract 3-month price dropped by 0.3 percent to end at $643.00 per short ton on Tuesday, December 17. The spot price of the US HRC futures contract remained essentially flat at $676.00 per short ton.
Chinese steel closed mixed yesterday. 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. After remaining flat for three days, the price of Chinese HRC fell 0.3 percent yesterday to CNY 3,480 ($573.21) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,430 ($235.54) per metric ton for the fifth day in a row.
The steel billet cash price saw essentially no change on the LME for the fifth day in a row, remaining around $260.00 per metric ton. The 3-month price of steel billet saw little movement on the LME at $260.00 per metric ton.