The LME steel billet cash price saw a 2.5 percent increase on May 30, 2012, reaching $410 per metric ton on the LME and making it the biggest mover for the day on our global steel price index. Also on the LME, the steel billet 3-month price rose 2.2 percent to $411 per metric ton.
Meanwhile, Chinese steel prices were flat for the day.
The price of Chinese HRC held steady at above $650 per metric ton. The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. The price of Chinese coking coal was unchanged.
The US HRC futures contract 3-month price held steady around $655 per short ton, while the US HRC futures contract spot price held steady around $662 per short ton.