Steel Billet Cash Price Sees Small Price Drop

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With a decline of 2.3 percent on the LME to $293.00 per metric ton on Dec. 13, 2012, the cash price of steel billet recorded the biggest decline of the day. The steel billet 3-month price saw a 1.6 percent decline on the LME to $300.00 per metric ton.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.30) and a low price of CNY 830.00 ($132.70) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 3,920 ($626.72) per metric ton. The price of Chinese coking coal held steady at CNY 1,700 ($271.79) per metric ton.

The US HRC futures contract spot price weakened by 0.2 percent, settling at $643.00 per short ton. The 3-month price of the US HRC futures contract held steady around $640.00 per short ton.

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