Steel Billet 3-Month Price Moves Down 4.8%

On Dec. 4, 2012, the day’s biggest mover was the steel billet 3-month price, which saw a 4.8 percent decline on the LME. The steel billet cash price on the LME was down 3.3 percent from the previous market day.

Chinese steel prices were mixed for the day. Chinese slab closed 0.3 percent lower . The price of Chinese HRC was essentially unchanged.

For the fifth consecutive day, the 3-month price of the US HRC futures contract held flat, while the spot price of the US HRC futures contract has been on the rise for 28 days.