LME Steel Billet Cash Price Shifts Up 1.4% as Chinese Steel Prices Fall

The cash price of steel billet saw the biggest increase at 1.4 percent on the LME, finishing at $360 per metric ton for Aug. 20, 2012, on MetalMiner’s steel price index. The 3-month price of steel billet rose 0.8 percent on the LME to $363 per metric ton after a two-day drop.

The US HRC futures contract 3-month price saw little movement on Monday at $650 per short ton. The spot price of the US HRC futures contract saw little movement on Monday, closing out around $645 per short ton.

Chinese steel prices were down for the day, while raw materials kept steady.

The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton.

After remaining flat for three days, the price of Chinese slab fell 1.1 percent on Monday, and after holding steady for the past few days, the price of Chinese HRC fell 1.1 percent as well.

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