Cash Price Of LME Steel Billet Moving Again, This Time Down 5%

On July 27, 2012, the day’s biggest mover on MetalMiner’s steel price index was the steel billet cash price, which saw a 5.1 percent decline on the LME to $370 per metric ton. Also on the LME, the 3-month price of steel billet fell 2.5 percent to $390 per metric ton.

Meanwhile, Chinese steel prices and raw material inputs were mixed for the day.

The high price of iron ore 58% fines from India hit above $130 per dry metric ton. Chinese slab prices saw a 0.5 percent decline, while the price of Chinese HRC held steady between $575 and $600 per metric ton.

The 3-month price of the US HRC futures contract saw little change in its price last Friday at $635 per short ton. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $605 per short ton.

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