LME Steel Billet 3-Month Price Up Nearly 5% Again

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LME steel billet has been on a roller-coaster that past several months, reflecting the prolonged dip of the steel price complex this summer.

The 3-month price of steel billet saw the biggest increase at 4.8 percent on MetalMiner’s daily steel price index, finishing at $370 per metric ton on the LME for Aug. 9, 2012. Also on the LME, the cash price of steel billet inched up 2.6 percent to $360 per metric ton.

Chinese steel closed mixed on Thursday. The prices of iron ore 58% fines from India remained steady, while the price of Chinese HRC fell 0.5 percent yesterday. For the fifth consecutive day, the price of Chinese coking coal held flat.

The 3-month price of US HRC futures held steady at $645 per short ton. The US HRC futures contract spot price remained essentially flat at $640 per short ton.

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