Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.74) and a low price of CNY 830.00 ($137.08) per dry metric ton. Chinese HRC prices held steady from the previous week at CNY 3,480 ($574.76) per metric ton. Chinese coking coal remained essentially flat from the previous week at CNY 1,430 ($236.18) per metric ton. Chinese slab prices were off slightly at CNY 3,610 ($596.23) per metric ton, down from CNY 3,640 ($599.51) a week ago.

This past week, the 3-month price of steel billet kept quiet, holding at on the LME at $285.00 per metric ton. Closing at $300.00 per metric ton, the cash price of steel billet remained unchanged on the LME for the week.

Korean steel prices were flat for the week. Following a steady week, prices for Korean steel scrap closed flat at KRW 345,000 ($325.26) per metric ton. Korean pig iron prices held steady from the previous week at KRW 635,000 ($567.52) per metric ton.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.