US Shredded Scrap Climbs Out of Flat Spell

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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 ($138.35) and a low price of CNY 830.00 ($136.70) per dry metric ton. The price of Chinese HRC showed little movement on Monday at CNY 3,480 ($573.17) 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.

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.

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.

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