Cash Price Of Steel Billet Sees Small Jump

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On July 30, 2012, the cash price of steel billet experienced the biggest change, rising 1.4 percent on the LME to $375 per metric ton. Also on the LME, the steel billet 3-month price fell 1.3 percent to $385 per metric ton.

Chinese steel prices closed flat for the day. The high and low prices of iron ore 58% fines from India ranged above the $130 per dry metric ton mark. At below $600 per metric ton, the price of Chinese HRC was essentially unchanged. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.

Closing out a three-day flat streak, the 3-month price of the US HRC futures contract moved up 0.8 percent to $640 per short ton. The US HRC futures contract spot price rose by 0.2 percent to $606 per short ton.

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