With a decline of 4.1 percent on the LME to $350 per metric ton on June 18, 2012, the steel billet cash price recorded the biggest shift of the day on our daily steel price index. The 3-month price of steel billet weakened by 2.7 percent on the LME, settling at $360 per metric ton.
Chinese steel prices were flat for the day, while US HRC futures remained steady.
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 remained steady, holding above $650 per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row.
The US HRC futures contract 3-month price held steady around $625 per short ton. The spot price of the US HRC futures contract showed little movement on Monday at $620 per short ton.