The cash price of steel billet saw the biggest increase at 1.4 percent on the LME, finishing at $355 per metric ton for June 22, 2012. After a 1.4 percent increase, the steel billet 3-month price finished the day on the LME at $365 per metric ton.
Chinese steel prices, iron ore and coking coal didn’t see too much action on the day.
The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. Chinese HRC saw little change in its price last Friday; same story for the price of Chinese coking coal.
Weakening prices followed two days of improvement as the US HRC futures contract 3-month price dropped 0.8 percent to $630 per short ton. The spot price of US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $620 per short ton.