LME Steel Billet Cash Price on the Rise Again
On Nov. 27, 2012, the day’s biggest mover on our steel price index was the cash price of LME steel billet, which saw a 1.4 percent increase to $299.00 per metric ton. This increase comes after two straight days of stagnant prices.
Tuesday saw the 3-month price of steel billet drift down 1.3 percent on the LME to $301.00 per metric ton after a couple of steady days.
Chinese steel prices were mixed for the day. The high price of iron ore 58% fines from India inched slightly upward. On Tuesday, the price of Chinese HRC drifted down 0.8 percent after three quiet days. The price of Chinese coking coal remained essentially flat.
The US HRC futures contract 3-month price held steady around $650.00 per short ton. The spot price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $618.00 per short ton.
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