Strengthening prices ended a two-day flat streak as the steel billet 3-month price moved up by 5.1 percent on Dec. 28, 2012 on the LME to $310.00 per metric ton. The steel billet cash price increased 3.6 percent on the LME to $290.00 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 ($134.60) and a low price of CNY 830.00 ($133.00) per dry metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining around CNY 4,000 ($640.94) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,650 ($264.39) per metric ton.
The US HRC futures contract 3-month price was unchanged at $650.00 per short ton. The spot price of the US HRC futures contract held steady at $642.00 per short ton.