The steel billet 3-month price saw the biggest decline of the day, dropping 6.2 percent on the LME to close at $305.00 per metric ton on Dec. 12, 2012. After improving for two days, the steel billet cash price declined 4.8 percent on the LME to $300.00 per metric ton.
Chinese steel prices were flat for the day. The prices of iron ore 58% fines from India stayed steady. The price of Chinese HRC held steady as well. The price of Chinese coking coal continues hovering in place for the fifth day in a row.
The US HRC futures contract spot price weakened by 0.2 percent, settling at $644.00 per short ton. The 3-month price of the US HRC futures contract saw little movement on Wednesday at $640.00 per short ton.