On April 30, 2012, the day’s biggest mover in global steel markets was the cash price of steel billet, which saw a 1.1 percent increase on the LME to $475 per metric ton. Also on the LME, the steel billet 3-month price gained one percent to finish at $490 per metric ton.
Chinese steel prices closed flat for the day. The high and low prices of iron ore 58% fines from India held in the range of $130 to $140 per dry metric ton. The price of Chinese coking coal remained unchanged. Chinese slab held its value yesterday at below $700 per metric ton.
The 3-month price of US HRC futures saw little change in its price yesterday at $670 per short ton. The spot price of US HRC futures contract saw little movement yesterday at $685 per short ton.