LME Steel Billet 3-Month Price Shoots Up More Than 10%

The steel billet 3-month price saw the biggest upwards shift on MetalMiner’s daily steel price index, rising 10.5 percent on the LME to close at $325.00 per metric ton on Dec. 11, 2012. Also on the LME, the steel billet cash price price jumped 7.9 percent to $315.00 per metric ton.

Chinese steel prices closed flat for the day. The prices of iron ore 58% fines from India didn’t move much from their current range. The price of Chinese HRC held steady. The price of Chinese coking coal remained essentially flat.

The US HRC futures contract 3-month price dropped by 0.8 percent to $640.00 per short ton after holding steady. The spot price of the US HRC futures contract closed Tuesday at $645.00 per short ton, halting its two-day flat run with a 0.8 percent decline.