On Wednesday, December 18, the day’s biggest mover was the 3-month price of steel billet, which saw a 7.7 percent increase on the LME to $280.00 per metric ton. This increase comes after three straight days of stagnant prices. Following three days of little change on the LME, the cash price of steel billet rose by 7.7 percent to $280.00 per metric ton.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.37) and a low price of CNY 830.00 ($136.72) per dry metric ton. The price of Chinese HRC held steady at CNY 3,480 ($573.23) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,430 ($235.55) per metric ton for the fifth day in a row.
The 3-month price of the US HRC futures contract showed little movement on Wednesday at $643.00 per short ton. The US HRC futures contract spot price held steady at $676.00 per short ton.