Chinese slab had the largest decline on Wednesday, January 8, dropping 0.6 percent and landing at CNY 3,520 ($581.67) per metric ton. The price of Chinese HRC saw little movement at CNY 3,480 ($575.06) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,430 ($236.30) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.81) and a low price of CNY 830.00 ($137.15) per dry metric ton.
Also on the LME, the cash price of steel billet saw little movement yesterday at $295.00 per metric ton. On the LME, the 3-month price of steel billet showed little movement on Wednesday, hovering around $290.00 per metric ton.
The 3-month price of the US HRC futures contract gained 0.3 percent, closing at $635.00 per short ton. The spot price of the US HRC futures contract flattened at $670.00 per short ton after two days of downward movement.