Last Friday’s biggest mover was the LME steel billet spot price, which dropped by 2.9 percent on April 20, 2012 to close at $476 per metric ton. Also on the LME, the 3-month price of steel billet showed little movement last Friday, hovering around $505 per metric ton.
Chinese steel prices were flat for the day. The range of prices of iron ore 58% fines from India stayed under $140 per dry metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat, while the price of Chinese slab also kept steady under $700 per metric ton.
The US HRC futures contract 3-month price fell 0.7 percent to $675 per short ton. The US HRC futures contract spot price has been on the decline for thirteen days and is now at $687 per short ton.