Steel Billet 3-Month Price Jumps on Daily Index

On Sept. 24, 2012, the day’s biggest mover on MetalMiner’s steel price index was the steel billet 3-month price, which saw a 7.5 percent increase on the LME to $360.00 per metric ton. Also on the LME, the steel billet cash price price jumped 3 percent to $340.00 per metric ton.

Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hovered in its usual range, while the price of Chinese slab fell 1.3 percent. The price of Chinese HRC remained steady.

The 3-month price of the US HRC futures contract showed little movement on Monday at $615.00 per short ton. The spot price of the US HRC futures contract continues hovering around $640.00 per short ton for the fifth day in a row.