US Shredded Scrap Climbs Out of Flat Spell

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

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Also on the LME, the cash price of steel billet remained essentially flat at $300.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $285.00 per metric ton.

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The 3-month price of the US HRC futures contract saw little movement on Monday at $643.00 per short ton. The spot price of the US HRC futures contract saw little movement at $676.00 per short ton.