Chinese Slab Weakens 0.3%

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Commodities, Metal Prices, Premium

Weakening prices ended a three-day flat streak as the price of Chinese slab fell 0.3 percent on Wednesday, December 25 to CNY 3,640 ($599.51) per metric ton. For the fifth consecutive day, the price of Chinese HRC held flat at CNY 3,480 ($573.16) per metric ton. The price of Chinese coking coal held steady at CNY 1,430 ($235.52) per metric ton. 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.

Also on the LME, the steel billet cash price showed little movement yesterday, hovering around $300.00 per metric ton. The steel billet 3-month price showed little movement on Tuesday on the LME at $285.00 per metric ton.

The US HRC futures contract 3-month price continues hovering around $643.00 per short ton for the fifth day in a row. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $676.00 per short ton.

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