Steel Billet Cash Price Drifts Down, While China, US Futures Quiet

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The steel billet cash price experienced the biggest price shift of the day, dropping 2.6 percent on the LME to close at $375 per metric ton on July 18, 2012. The 3-month price of steel billet saw little price change on Wednesday on the LME at $400 per metric ton.

Read about the steel price trends for the past week.

Meanwhile, Chinese steel prices closed flat for the day.

The high and low prices of iron ore 58% fines from India held steady above $130 per dry metric ton. Chinese HRC stayed flat between $600 and $625 per metric ton. The price of Chinese coking coal saw little movement.

The 3-month price of US HRC futures contract also showed little action yesterday at $638 per short ton. The US HRC futures contract spot price held steady on Wednesday, remaining around $605 per short ton.

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