Korean Steel Scrap Weakens 4.3%

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Commodities, Metal Prices
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 ($138.84) and a low price of CNY 830.00 ($137.18) per dry metric ton. The price of Chinese HRC held steady at CNY 3,480 ($575.17) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,430 ($236.35) per metric ton.

The cash price of steel billet fell 1.7 percent on Thursday on the LME to $295.00 per metric ton after three straight days with no change. The 3-month price of steel billet continues hovering around $285.00 per metric ton on the LME for the fifth day in a row.

The US HRC futures contract 3-month price saw little change in its price on Thursday at $633.00 per short ton. The US HRC futures contract spot price showed little movement on Thursday, hovering around $675.00 per short ton.

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