On Oct. 17, 2012, the day’s biggest mover on our steel price index was the steel billet 3-month price, which saw a 2.8 percent increase on the LME to $334.00 per metric ton. Also on the LME, the cash price of steel billet rose 2.2 percent to $330.00 per metric ton.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India dropped very slightly. After holding steady for the past few days, the price of Chinese slab fell 1.3 percent. The price of Chinese HRC showed little movement yesterday.
Following a two-day drop, the US HRC futures contract 3-month price increased by 0.8 percent to $635.00 per short ton. The US HRC futures contract spot price continues hovering around $595.00 per short ton for the fifth day in a row.