Chinese Slab Weakens

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Weakening prices ended a three-day flat streak as the price of Chinese slab fell 0.3 percent on Wednesday, December 25. For the fifth consecutive day, the price of Chinese HRC held flat. The price of Chinese coking coal held steady. The price of iron ore 58% fines from India was range bound.

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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.

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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.