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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