Daily Steel Roundup: LME Steel Billet Price Down Again

On June 11, 2012, the day’s biggest mover on our steel price index was the LME cash price of steel billet, which saw a 2.8 percent decline to $349 per metric ton. Also on the LME, the 3-month price of steel billet declined 2.8 percent to $350 per metric ton.

Chinese steel closed mixed on Monday. The high and low prices of iron ore 58% fines from India ranged between $125 and $130 per dry metric ton. The price of Chinese HRC fell 0.2 percent on Monday while the price of Chinese coking coal held steady.

The 3-month price of US HRC futures contract remained essentially flat at $630 per short ton. The US HRC futures contract spot price held steady around $628 per short ton.

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