Steel Billet Cash Price Improves Slightly

With a 1.8 percent increase over the past day, the cash price of steel billet was the biggest mover on the LME, closing at $280.00 per metric ton on Jan. 10, 2013. Also on the LME, the steel billet 3-month price inched up 0.7 percent to $282.00 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.91) and a low price of CNY 830.00 ($133.31) per dry metric ton. Chinese HRC saw little change in its price on Thursday at CNY 4,130 ($663.33) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,650 ($265.01) per metric ton for the fifth day in a row.

The US HRC futures contract 3-month price fell 0.3 percent to $650.00 per short ton. The US HRC futures contract spot price showed little movement yesterday, hovering around $645.00 per short ton.

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