The US HRC futures contract spot price increased by 0.3 percent on Friday, January 31 to $674.00 per short ton, making it the day’s biggest mover. The 3-month price of the US HRC futures contract gained 0.2 percent, finishing at $629.00 per short ton.
Chinese steel prices closed 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 held steady.
Also on the LME, the steel billet cash price saw little change in its price last Friday at $365.00 per metric ton. On the LME, the 3-month price of steel billet remained essentially flat at $360.00 per metric ton.