Steel Markets Hardly Move, LME Billet Price Drops Slightly

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On Oct. 12, 2012, the day’s biggest mover on our steel price index was the steel billet cash price, which saw a 1.3 percent decline on the LME to $330.00 per metric ton. The steel billet 3-month price weakened by 1.3 percent on the LME, settling at $331.00 per metric ton.

Chinese steel prices were mixed for the day.

The high and low prices of iron ore 58% fines from India remained in the low $130s per dry metric ton. The price of Chinese HRC fell by 0.5 percent following a couple days of improvement. The price of Chinese coking coal held steady.

The US HRC futures contract 3-month price saw little movement last Friday at $633.00 per short ton. The US HRC futures contract spot price saw little movement last Friday, closing out around $595.00 per short ton.

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