Quiet Day for Raw Steels Mmi
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 ($138.53) and a low price of CNY 830.00 ($136.88) per dry metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining around CNY 3,480 ($573.89) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,430 ($235.82) per metric ton.
The steel billet cash price remained essentially flat at $300.00 per metric ton on the LME. The 3-month price of steel billet held steady on the LME at $285.00 per metric ton.
For the fifth consecutive day, the 3-month price of the US HRC futures contract held flat at $643.00 per short ton. For the fifth day in a row, the spot price of the US HRC futures contract remained essentially flat at $676.00 per short ton.