Steel Billet 3-Month Price Rises 2.4%, Chinese HRC Down

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The 3-month price of steel billet saw the biggest increase on our daily steel price index at 2.4 percent on the LME, finishing at $335.00 per metric ton for Sept. 21, 2012.

Also on the LME, the steel billet cash price increased 1.5 percent to $330.00 per metric ton.

Chinese steel and raw materials prices were mixed for the day. The price of iron ore 58% fines from India remained range-bound, while the price of Chinese HRC, following a couple days of improvement, weakened by 1.4 percent. For the fifth consecutive day, the price of Chinese coking coal held flat.

The US HRC futures contract 3-month price saw little price change last Friday at $615.00 per short ton. For the fifth day in a row, the spot price of the US HRC futures contract remained essentially flat at $640.00 per short ton.

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