The US HRC futures contract spot price closed July 12, 2012 at $625 per short ton, halting its three-day flat run with a 3.3 percent shift. The US HRC futures contract 3-month price rose by 0.5 percent to $638 on Thursday after remaining flat for two days.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India remained range bound in the low $130’s per dry metric ton range. The price of Chinese HRC held steady. The price of Chinese coking coal also held steady.
On the LME, the steel billet cash price inched up 1.3 percent to $380 per metric ton. The 3-month price of steel billet weakened by 1.3 percent on the LME, settling at $390 per metric ton.