Steel Billet Cash Price Improves Slightly

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At $366 per metric ton, the steel billet cash price moved up 0.1 percent on June 29, 2012 on the LME. Following a two-day rise on the LME, the 3-month price of steel billet flattened at $366.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India stayed in the same $130-140 range as the previous day.   Chinese HRC held its value last Friday. For the fifth consecutive day, the price of Chinese coking coal held flat as well.

The US HRC futures contract 3-month price showed little movement last Friday at $625 per short ton. For the fifth day in a row, the US HRC futures contract spot price remained essentially flat at $620 per short ton.

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