Weakening prices ended a three-day flat streak as the 3-month price of the US HRC futures contract fell 0.2 percent on Tuesday, January 28 to $628.00 per short ton. The spot price of the US HRC futures contract saw little movement on Tuesday, closing out around $672.00 per short ton.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC remained essentially flat. The price of Chinese coking coal remained steady.
Also on the LME, the steel billet cash price held steady around $365.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $360.00 per metric ton.