With a 4.1 percent increase over the past day, the steel billet cash price was the biggest mover on the LME, closing at $369 per metric ton on Aug. 14, 2012. The steel billet 3-month price also climbed 4.1 percent on the LME to $370 per metric ton.
Chinese steel prices closed mixed yesterday.
The prices of iron ore 58% fines from India didn’t move since the day before. However, the price of Chinese HRC fell 0.8 percent yesterday after two days of no change. The price of Chinese coking coal was unchanged on the day.
The US HRC futures contract 3-month price rose by 0.5 percent to $648 per short ton after a three-day flat streak. The US HRC futures contract spot price held steady around $641 per short ton.