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 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. The price of Chinese coking coal was unchanged at CNY 1,780 ($283) per metric ton. Chinese slab held its value yesterday at CNY 4,360 ($693) 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.