LME Steel Billet Cash Price Still on Roller Coaster Ride

The steel billet cash price saw the biggest upwards shift for the day, rising five percent on the LME to close at $399 per metric ton on July 16, 2012. Also on the LME, the 3-month price of steel billet gained 2.8 percent to finish at $401 per metric ton.

Chinese steel prices were mixed for the day. The high and low prices of iron ore 58% fines from India ranged between $125 and $135 per dry metric ton. Monday saw the price of Chinese slab drift down 0.8 percent after a couple of stagnant days. The price of Chinese HRC held steady above $625 per metric ton.

The US HRC futures contract 3-month price showed little movement on Monday, hovering around $638 per short ton. The spot price of US HRC futures saw little price change on Monday at $605 per short ton.

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