LME Steel Billet Cash Price Lower on Daily Index

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On Sept. 4, 2012, the steel billet cash price fell by 1.5 percent on the LME, landing at $335.00 per metric ton and making it the day’s biggest mover on MetalMiner’s steel price index. Also on the LME, the 3-month price of steel billet fell 0.6 percent to $340.00 per metric ton.

Chinese steel prices closed flat for the day. At below $550 per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal saw essentially no change for the fifth day in a row, and the high and low prices of iron ore 58% fines from India ranged from $130 to $132 per dry metric ton.

The US HRC futures contract 3-month price showed little movement yesterday at $620.00 per short ton. 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.

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