LME Steel Billet Cash Price Tumbles 6%, Steel Futures Rise

by MetalMiner IndX Reports on

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.

Read MetalMiner’s take on the LME wanting to begin iron ore and coking coal contracts.

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.




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