On Oct. 22, 2012, the cash price of steel billet fell by 6 percent on the LME, landing at $315.00 per metric ton and making it the day’s biggest mover on MetalMiner’s steel price index.
A $20.00 decline in the LME steel billet 3-month price left the price at $325.00 per metric ton.
Chinese steel and raw material input prices closed flat for the day. The price of iron ore 58% fines from India remained tightly range-bound, while the price of Chinese HRC was essentially unchanged. For the fifth consecutive day, the price of Chinese coking coal held flat.
The US HRC steel futures contract 3-month price increased 1.6 percent to $650.00 per short ton. The spot price of the US HRC steel futures contract saw a 0.3 percent decline to $590.00 per short ton.