LME Steel Billet Cash Price Rises More Than 5%

The cash price of steel billet saw the biggest increase on our steel price index, up 5.4 percent on the LME, finishing at $390 per metric ton for July 24, 2012. At $410, the steel billet 3-month price finished the market day on the LME up 2.5 percent per metric ton.

Chinese steel closed mixed on Tuesday. The prices of iron ore 58% fines from India remained largely range-bound, with the low price dipping below $130 per dry metric ton. Chinese HRC prices saw a 1.9 percent decline, while the price of Chinese coking coal was unchanged.

The 3-month price of the US HRC futures contract remained essentially flat at $635 per short ton. The US HRC futures contract spot price held steady at $605 per short ton.

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