On July 4, 2012, the steel billet 3-month price fell by 3.8 percent on the LME, landing at $365 per metric ton. The steel billet cash price saw a 1.5 percent decline on the LME to $364 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India remained in the low $130/per dry metric ton range. Chinese HRC ended the day down with a slight 0.5 percent drop on Tuesday. The price of Chinese slab fell 0.2 percent as well.

The US HRC futures contract 3-month price declined 1.6 percent to $620 per short ton. The US HRC futures contract spot price continues hovering around $620 per short ton for the fifth day in a row.