3-Month Price of LME Steel Billet Climbs, Chinese Slab Up

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The 3-month price of steel billet saw the biggest increase on MetalMiner’s daily steel price index at 3.1 percent on the LME, finishing at $335.00 per metric ton for Sept. 12, 2012. After a 1.6 percent increase, the steel billet cash price finished the day on the LME at $325.00 per metric ton.

Chinese steel closed mixed yesterday. The high and low prices of iron ore 58% fines from India ranged between $130 and $135 per dry metric ton. The price of Chinese slab gained 2 percent, and the price of Chinese HRC remained steady above $500 per metric ton.

The 3-month price of the US HRC futures contract showed little movement yesterday at $605.00 per short ton. The spot price of the US HRC futures contract has been on the decline for 12 days and is now at $640.00 per short ton.

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