LME Billet Falls 6.7% on Weekly Steel Price Index

by on

The biggest mover on the weekly Raw Steels MMI® was the cash price of steel billet, which saw a 6.7 percent decline on the LME to $280.00 per metric ton. This comes on the heels of a 3.4 percent increase the week before.

current steel prices - MetalMiner IndXFollowing a 3.4 percent increase in the week prior, the 3-month price of steel billet fell 1.6 percent on the LME last week to $300.00 per metric ton.

The high price of iron ore 58% fines from India inched closer to $135 per dry metric ton. Following a 2 percent increase, Chinese HRC finished the week up. The week finished with no movement for Chinese coking coal. Chinese slab prices ticked up 0.5 percent over the past week.

The price of US shredded scrap fell 0.8 percent after rising 0.8 percent the week before.

A 2.3 percent gain landed the 3-month price of the US HRC futures contract at $655.00 per short ton. Following a 3.7 percent increase in the week prior, the US HRC futures contract spot price fell 0.3 percent last week to $642.00 per short ton.

Korean steel scrap and pig iron prices were flat for the week.

today's metal prices - MetalMiner IndXThe Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.