The 3-month price of the US HRC futures contract fell 0.5 percent on Thursday, February 27 to $620.00 per short ton, making it the day’s biggest mover. Thursday saw the US HRC futures contract spot price drift down 0.2 percent to $654.00 per short ton after three quiet days.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price above $137 per dry metric ton. For the fifth consecutive day, the price of Chinese HRC held flat. The price of Chinese coking coal continues hovering under $230 per metric ton for the fifth day in a row.
For the fifth day in a row, the steel billet cash price remained essentially flat on the LME at $355.00 per metric ton. The steel billet 3-month price saw little movement on the LME at $360.00 per metric ton.