Raw Steels MMI®: LME Steel Steady as Investors Look to 2015

by on
Cold-rolled steel

This week in steel, production from the Great Lakes region of the US fell off, and Nucor and Big River Steel renewed their Arkansas plant fight, this time in federal court.

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

As 2015 approaches, most are predicting lower prices for the new year, as well.

A 22.3% decline in Chinese coking coal made it the biggest mover of the week, closing at CNY 1,080 ($175.68) per metric ton on the weekly Raw Steels MMI®. Chinese billet prices fell to CNY 2,840 ($461.98) per metric ton, down from CNY 3,110 ($506.93) a week ago. Chinese HRC rose 6.4% over the past week to CNY 3,160 ($514.04) per metric ton. Chinese slab dropped 3.7% over the past week to CNY 3,350 ($544.94) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.64) and a low price of CNY 840.00 ($136.64) per dry metric ton.

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

On the LME, the 3-month price of steel billet remained steady from the previous week at $480.00 per metric ton. Following a steady week, prices for on the LME the steel billet cash price closed flat at $500.00 per metric ton.

US shredded scrap weakened by 4.4% to land at $328.00 per short ton. With a 0.6% decrease, the US HRC futures contract spot price closed the week at $630.00 per short ton. Since last week, the price of the US HRC futures contract 3-month price fell to $625.00 per short ton after moving 0.5%.

Korean steel prices were flat for the week. Closing at KRW 214,000 ($192.28) per metric ton, Korean steel scrap remained unchanged for the week. Following a steady week, prices for Korean pig iron closed flat at KRW 635,000 ($619.69) per metric ton.

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®: LME Steel Steady as Investors Look to 2015 Comments Off on Raw Steels MMI®: LME Steel Steady as Investors Look to 2015}