The steel billet 3-month price saw the biggest upwards shift for the day, 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 price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.59) and a low price of CNY 830.00 ($132.99) per dry metric ton. The price of Chinese HRC held steady at CNY 3,920 ($628.09) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,700 ($272.39) per metric ton.
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.