With a decline of 2.5 percent on the LME to $390 per metric ton on July 19, 2012, the steel billet 3-month price recorded the biggest shift of the day. After a couple of days of decreasing prices on the LME, the steel billet cash price held steady at $375.
Chinese steel prices were mixed for the day. The high and low prices of iron ore 58% fines from India did not change. Chinese HRC ended the day with a 0.8 percent drop on Thursday. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.
Closing out a three-day flat streak, the US HRC futures contract 3-month price moved up 0.3 percent to $640 per short ton. The US HRC futures contract spot price remained essentially flat at $605 per short ton.