On May 14, 2012, the day’s biggest mover on our daily steel price index was the LME steel billet cash price, which saw a 2.5 percent increase to $464 per metric ton. This increase comes after the price fell for the two previous days. Also after dropping for two days on the LME, the 3-month price of steel billet flattened at $470.
Chinese steel prices were mixed for the day. The high and low prices of iron ore 58% fines from India ranged between $135 and $140 per dry metric ton. Monday saw the price of Chinese HRC shift down 0.7 percent after three quiet days. The price of Chinese coking coal kept steady.
The US HRC futures contract 3-month price remained essentially flat at $665 per short ton. The spot price of the US HRC futures contract held steady on Monday, remaining around $670 per short ton.