Raw Steels MMI in a Lull

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Commodities, Metal Prices, Premium

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 ($138.39) and a low price of CNY 830.00 ($136.75) per dry metric ton. The price of Chinese HRC held steady at CNY 3,480 ($573.34) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,430 ($235.60) per metric ton.

The cash price of steel billet held steady yesterday on the LME, remaining around $300.00 per metric ton. The steel billet 3-month price saw little price change yesterday on the LME at $285.00 per metric ton.

The 3-month price of the US HRC futures contract saw little movement at $643.00 per short ton. The US HRC futures contract spot price continues hovering around $676.00 per short ton for the fifth day in a row.

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