On Nov. 6, 2012, the day’s biggest mover on MetalMiner’s steel price index was the steel billet 3-month price, which saw a 7.2 percent decline on the LME to $320.00 per metric ton. Also on the LME, the steel billet cash price fell 6 percent to $315.00 per metric ton.
Chinese steel prices and raw materials inputs were mixed for the day. The prices of iron ore 58% fines from India remained in a very tight range. Closing out a three-day flat streak, the price of Chinese HRC moved up 1.3 percent, and Chinese slab finished the day after a 1.1 percent increase.
After two flat days, the US HRC futures contract 3-month price inched up 0.8 percent yesterday to $650.00. The spot price of the US HRC futures contract showed little movement yesterday, hovering around $618.00 per short ton.