Cash Price of Steel Billet Up After Two-Day Decline

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Following a two-day decline on the LME, the steel billet cash price climbed up 1.5 percent to end at $330 per metric ton on Sept. 6, 2012. The 3-month price of steel billet rose 0.9 percent on the LME to $333.00 per metric ton after a two-day drop.

Chinese steel prices were mixed for the day. The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. Chinese HRC closed 1.5 percent lower. The price of Chinese coking coal remained essentially flat.

The US HRC futures contract 3-month price has been on the decline for 7 days and is now at $606.00 per short ton. The US HRC futures contract spot price has been on the rise for 13 days and is now at $649.00 per short ton.

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