3-Month Price Of LME Steel Billet Sees Small Decrease

On Aug. 6, 2012, the 3-month price of steel billet fell by 1.5 percent on the LME, landing at $355 per metric ton and making it the day’s biggest mover on MetalMiner’s steel price index. The steel billet cash price saw a 1.3 percent decline on the LME to $354 per metric ton.

Chinese steel prices closed flat for the day. The high and low prices of iron ore 58% fines from India did not move, and the price of Chinese HRC remained steady between $550 and $600 per metric ton. The price of Chinese coking coal held steady as well.

The US HRC futures contract 3-month price has been on the rise for seven days and is now at $640 per short ton. The US HRC futures contract spot price saw little change in its price yesterday at $640 per short ton.

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