LME Steel Billet 3-Month Price Declines

The day’s biggest mover on MetalMiner’s steel price index was the steel billet 3-month price which dropped by 4.3 percent on Oct. 23, 2012 to close at $311.00 per metric ton on the LME. Also on the LME, the cash price of steel billet declined 1.9 percent to $309.00 per metric ton.

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

The prices of iron ore 58% fines from India stayed above $130 per dry metric ton. Chinese HRC saw little change in its price on Tuesday. The price of Chinese coking coal held steady as well.

The 3-month price of the US HRC steel futures contract steadied at $650.00 per short ton following two-days of increases. The US HRC steel futures contract spot price saw little price change on Tuesday at $590.00 per short ton.