Cash Price of Steel Billet Improves Slightly

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The steel billet cash price saw a 1.5 percent increase on Sept. 25, 2012, reaching $345.00 per metric ton on the LME and making it the biggest mover on MetalMiner’s daily steel price index.

Following two days of rising prices, the steel billet 3-month price dropped 1.4 percent on the LME to $355.00 per metric ton.

Chinese steel prices were mixed for the day. The high and low prices of iron ore 58% fines from India remained range-bound. Chinese slab closed 1.4 percent lower, and the price of Chinese HRC remained steady.

The 3-month price of the US HRC futures contract showed little movement on Tuesday at $615.00 per short ton. For the fifth consecutive day, the spot price of the US HRC futures contract held flat at $640.00 per short ton.

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