With a decline of 2.7 percent on the LME to $365 per metric ton on June 15, 2012, the cash price of steel billet recorded the biggest shift of the day on our steel price index. Also on the LME, the steel billet 3-month price declined 1.5 percent to $370 per metric ton.
Chinese steel prices were flat for the day. The high and low price of iron ore 58% fines from India ranged between $125 and $130 per dry metric ton. Chinese HRC saw little change in its price last Friday, and for the fifth consecutive day, the price of Chinese coking coal held flat.
The 3-month price of the US HRC futures contract showed little movement last Friday at $625 per short ton. The spot price of US HRC futures contract saw little price change last Friday at $620 per short ton.