With a 2.5 percent increase over the past day, the LME cash price of steel billet was the biggest mover in steel markets, closing at $487 per metric ton. Also on the LME, the steel billet 3-month price gained one percent to finish at $495 per metric ton.
Chinese steel prices closed flat for the day. The high and low prices of iron ore 58% fines from India ranged between $135 and $140 per dry metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining under $700 per metric ton. The price of Chinese coking coal held steady as well.
The US HRC futures contract 3-month price held steady around $670 per short ton. The spot price of US HRC futures contract saw little movement at $685 per short ton.