Spot Price of US HRC Futures Contract Experiences Large Decrease

by on

The spot price of the US HRC futures contract experienced the biggest price decline of the day, dropping 4.1 percent to close at $627.00 per short ton on Monday, March 3. After falling for two days, the US HRC futures contract 3-month price rose 0.5 percent to $620.00 per short ton.

* Get the complete prices every day on the MetalMiner IndX℠

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 continues to hover for the fifth day in a row. The price of Chinese coking coal saw essentially no change for the fifth day in a row.

The steel billet cash price was unchanged on the LME at $355.00 per metric ton. For the fifth day in a row, the steel billet 3-month price remained essentially flat on the LME at $360.00 per metric ton.