According to China’s National Bureau of Statistics, steel prices declined slightly for most products in the first half of this month.
The cash price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $395.00 per metric ton. For the fifth day in a row, the 3-month price of steel billet remained essentially flat on the LME at $400.00 per metric ton.
The 3-month price of the US HRC futures contract saw a 0.5 percent increase on Tuesday, June 24, reaching $635.00 per short ton and making it the biggest mover for the day. The spot price of the US HRC futures contract saw little change in its price yesterday at $670.00 per short ton.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.92) and a low price of CNY 830.00 ($133.31) per dry metric ton. The price of Chinese HRC was unchanged at CNY 3,380 ($542.89) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($223.26) per metric ton.