Steel Billet 3-Month Price Down

The steel billet 3-month price saw the biggest decline of the day, dropping 3 percent on the LME to close at $325.00 per metric ton on Sept. 13, 2012. The steel billet cash price weakened by 1.5 percent on the LME, settling at $320.00 per metric ton.

Chinese steel prices closed flat for the day. The high price of iron ore 58% fines from India nearly hit $133 per dry metric ton, while the price of Chinese HRC remained steady above $500 per metric ton. For the fifth consecutive day, the price of Chinese coking coal held flat.

The 3-month price of the US HRC futures contract inched up 0.8 percent to $610.00 per short ton. The US HRC futures contract spot price has been on the decline for 12 days and is now at $640.00 per short ton.

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