The Seattle Times recently covered the history of Nucor Steel’s West Seattle scrap facility and included a photo essay that shows everything from melting down scrap to rebar production and steel beam production. The “little Pittsburgh” plant was originally opened in 1905 and a residential neighborhood has grown up around it ever since.
Steel prices were mostly flat again, a trend that we’ve seen all too much of this year.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.39) and a low price of CNY 830.00 ($132.79) per dry metric ton. The price of Chinese HRC was unchanged at CNY 3,380 ($540.75) per metric ton. The price of Chinese coking coal held steady at CNY 1,390 ($222.38) per metric ton.
The cash price of steel billet was unchanged on the LME at $390.00 per metric ton. The steel billet 3-month price continues hovering around $400.00 per metric ton on the LME for the fifth day in a row.
The US HRC futures contract 3-month price saw little movement at $623.00 per short ton. The spot price of the US HRC futures contract saw little change in its price yesterday at $670.00 per short ton.