Steel Billet Cash Price Drifts Downwards

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 With a decline of 1 percent on the LME to $290.00 per metric ton on Dec. 14, 2012, the steel billet cash price recorded the biggest decline of the day. After a couple of days of decreasing prices on the LME, the steel billet 3-month price held steady at $300.00.

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 ($134.45) and a low price of CNY 830.00 ($132.85) per dry metric ton. The price of Chinese HRC held steady at CNY 3,920 ($627.44) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,700 ($272.10) per metric ton.

The US HRC futures contract 3-month price remained essentially flat at $640.00 per short ton. Following two days of downward movement, the spot price of the US HRC futures contract held steady at $643.00 per short ton.

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