After a Couple Changeless Days, LME Steel Billet Cash Price Weakens

On Aug. 30, 2012, the day’s biggest mover on MetalMiner’s steel price index was the steel billet cash price, which saw a 1.4 percent decline on the LME to $345.00 per metric ton. The 3-month price of steel billet weakened by 1.4 percent on the LME, settling at $350.00 per metric ton.

Chinese steel prices were flat for the day. Chinese HRC held its value on Thursday at just under $550 per metric ton. The price of Chinese coking coal remained essentially flat, and the prices of iron ore 58% fines from India didn’t move.

The spot price of the US HRC futures contract has been on the rise for 13 days and is now at $649.00 per short ton. The US HRC futures contract 3-month price increased 0.3 percent to $620.00 per short ton.

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