LME Steel Billet Prices Still Under $300 on Weekly Index

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current steel prices - MetalMiner IndXFollowing a 5.1 percent on the LME decline to $280.00 per metric ton, the steel billet 3-month price finished as the biggest mover on the weekly Raw Steels MMI®.

The cash price of steel billet fell 0.4 percent on the LME for the week to settle at $279.00 per metric ton.

Chinese steel prices were flat for the week. The prices of iron ore 58% fines from India remained rangebound, while prices for Chinese HRC remained constant. The price of Chinese coking coal did not change since the previous week. Following a steady week, prices for Chinese slab closed flat.

The US HRC futures contract spot price shifted up 2 percent to close at $655.00 per short ton this week. The US HRC futures contract 3-month price rose 0.8 percent to $655.00 per short ton after falling 0.8 percent during the previous week.

US shredded scrap saw its price rise 1 percent over the past week.

The week finished with no movement for Korean steel scrap. Korean pig iron prices held steady from the previous week as well.

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.

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