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 ($138.24) and a low price of CNY 830.00 ($136.60) per dry metric ton. The price of Chinese HRC saw little movement at CNY 3,480 ($572.71) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,430 ($235.34) per metric ton for the fifth day in a row.
The steel billet cash price was unchanged on the LME at $300.00 per metric ton. The 3-month price of steel billet remained essentially flat at $285.00 per metric ton on the LME.
For the fifth consecutive day, the US HRC futures contract 3-month price held flat at $643.00 per short ton. The spot price of the US HRC futures contract held steady at $676.00 per short ton.