The cash price of steel billet saw a 3.4 percent drop on the LME on Dec. 18, 2012, landing at $280.00 per metric ton and making it the biggest mover on MetalMiner’s daily steel price index.
Tuesday saw the steel billet 3-month price drift down 3.3 percent on the LME to $290.00 per metric ton after a couple of stagnant days.
Chinese steel prices were mixed for the day. The prices of iron ore 58% fines from India remained range-bound. After a few days of little change, the price of Chinese slab spiked 0.5 percent. For the fifth consecutive day, the price of Chinese HRC held flat.
After a 1.6 percent increase, the US HRC futures contract 3-month price finished the day at $655.00 per short ton. The US HRC futures contract spot price showed little movement yesterday at $642.00 per short ton.