Korean Steel Scrap Moves Down 3.0%

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Commodities, Metal Prices, Premium

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 ($137.06) and a low price of CNY 830.00 ($135.43) per dry metric ton. After a couple of days of improving prices, the price of Chinese HRC held steady at CNY 3,440 ($561.29). The price of Chinese coking coal showed little movement on Thursday at CNY 1,410 ($230.07) per metric ton.

The steel billet cash price remained essentially flat on the LME at $130.00 per metric ton. On the LME, the steel billet 3-month price held steady around $150.00 per metric ton.

The US HRC futures contract 3-month price saw little movement on Thursday at $606.00 per short ton. The spot price of the US HRC futures contract held steady yesterday, remaining around $588.00 per short ton.