On May 24, 2012, the LME steel billet cash price experienced the biggest change, rising 3.7 percent on the LME to $434 per metric ton. The steel billet 3-month price climbed 3.3 percent on the LME to $435 per metric ton.
Chinese steel and raw materials prices were mixed for the day.
The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. Chinese steel slab finished the day down 0.7 percent. After three straight days of no change, the price of Chinese HRC decreased by 0.2 percent.
After three essentially changeless days, the 3-month price of the US HRC futures contract dropped 1.5 percent yesterday to $645 per short ton. The spot price of the US HRC futures contract fell 0.3 percent to $663 per short ton yesterday after two days of no change.