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 ($139.06) and a low price of CNY 830.00 ($137.41) per dry metric ton. At CNY 3,480 ($576.11) per metric ton, the week finished with no movement for Chinese HRC. The price of Chinese slab dropped 0.3 percent this week, closing out the third consecutive week of falling prices at CNY 3,510 ($581.08) per metric ton. Chinese coking coal saw a 0.7 percent decline over the past week to CNY 1,420 ($235.08) per metric ton.
The US HRC futures contract spot price rose 0.7 percent to $675.00 per short ton after falling 0.7 percent during the previous week. US shredded scrap prices ticked up 0.5 percent over the past week to $418.00 per short ton. The 3-month price of the US HRC futures contract fell 0.3 percent to $633.00 per short ton after rising 0.3 percent the week before.
Korean steel prices were mixed for the week. The price of Korean steel scrap decreased to KRW 320,000 ($302.11) per metric ton, a 3.0 percent decline from the previous week. Closing at KRW 645,000 ($606.83) per metric ton, Korean pig iron remained unchanged for the week.
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