Spot Price of US HRC Futures Contract Experiences Large Decrease

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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.

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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 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.

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