Chinese Steel Prices Flat; LME Steel Billet Settles After Two Days of Improvement

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 ($138.35) and a low price of CNY 830.00 ($136.71) per dry metric ton. Chinese HRC saw little change in its price last Friday at CNY 3,480 ($573.18) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,430 ($235.53) per metric ton.

The steel billet cash price flattened at $300.00 after two days of improvement on the LME. Following a two-day rise on the LME, the 3-month price of steel billet flattened at $285.00.

The US HRC futures contract 3-month price saw little change in its price last Friday at $643.00 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $676.00 per short ton.

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