Spot Price of US HRC Futures Contract Improves

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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.

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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.

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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.