Raw Steels MMI®: Flat Week on the LME, Chinese Rebar Hits New Low, GOES Duties Imposed

by on

Steel prices continued to hold steady, if not spectacular, as raw steels charted five consecutive flat days on the LME. Chinese rebar fell to a record low and the Commerce Dept. slapped duties on imports of Grain-Oriented Electrical Steel from several countries and major manufacturers.

FREE Download: The Monthly MMI® Report – covering Steel/Iron Ore markets.

Prices for raw steels continue to exhibit flatness. On the LME, the steel billet 3-month price remained steady from the previous week at $400.00 per metric ton. Closing at $390.00 per metric ton, the steel billet cash price remained unchanged on the LME for the week.

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

Chinese steel prices were flat for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.94) and a low price of CNY 830.00 ($133.33) per dry metric ton. Prices for Chinese HRC remained constant, closing the week at CNY 3,360 ($539.76) per metric ton. At CNY 1,390 ($223.29) per metric ton, the price of Chinese coking coal did not change since the previous week. Chinese slab remained essentially flat from the previous week at CNY 3,480 ($559.04) per metric ton.

Korean steel prices were mixed for the week. Korean steel scrap prices fell to KRW 270,000 ($263.17) per metric ton, down from KRW 280,000 ($269.69) a week ago. Closing at KRW 635,000 ($595.63) per metric ton, Korean pig iron remained unchanged for the week.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

{Comments Off on Raw Steels MMI®: Flat Week on the LME, Chinese Rebar Hits New Low, GOES Duties Imposed Comments Off on Raw Steels MMI®: Flat Week on the LME, Chinese Rebar Hits New Low, GOES Duties Imposed}