On April 27, 2012, the day’s biggest mover was the steel billet cash price, which saw a 1.1 percent increase on the LME to $470 per metric ton. This increase comes after the price fell for the two previous days. After a one percent increase, steel billet 3-month prices finished the day on the LME at $485 per metric ton.
Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India hit a high price of CNY 860 ($136) and a low price of CNY 870 ($138) per dry metric ton. Friday saw the price of Chinese slab shift 0.7 percent to CNY 4,360 ($693) per metric ton after three quiet days. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,780 ($283) per metric ton.
The US HRC futures contract 3-month price stayed steady at $670 per short ton. The spot price of US HRC futures contract saw little change in its price at $685 per short ton.