Raw Steels Remain Flat

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India were range bound. The price of Chinese HRC remained essentially flat. The price of Chinese coking coal saw essentially no change for the fifth day in a row.

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For the fifth consecutive day, the steel billet cash price held flat on the LME at $365.00 per metric ton. For the fifth day in a row, the 3-month price of steel billet remained essentially flat on the LME at $360.00 per metric ton.

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The 3-month price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $629.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $658.00 per short ton.