The steel billet 3-month price saw a 4.8 percent increase on Oct. 18, 2012, reaching $350.00 per metric ton on the LME and making it the biggest mover for the day on MetalMiner’s steel price index.

The cash price of steel billet climbed 3 percent on the LME to $340.00 per metric ton.

Chinese steel and raw material input prices closed flat for the day.

The prices of iron ore 58% fines from India remained range-bound, while the price of Chinese HRC remained steady. The price of Chinese coking coal saw little movement.

The US HRC futures contract spot price has been on the decline for 8 days and is now at $592.00 per short ton. The US HRC futures contract 3-month price remained essentially flat at $635.00 per short ton.