At $289.00 per metric ton, the cash price of LME steel billet moved up 3.2 percent on Jan. 11, 2013, making it the day’s biggest mover on our steel price index.
Also on the LME, the steel billet 3-month price rose 3.2 percent to $291.00 per metric ton.
Chinese steel prices were flat for the day. The prices of iron ore 58% fines from India remained rangebound in the spot they’ve been lounging in recently. The price of Chinese HRC remained steady, and the price of Chinese coking coal saw little movement.
The US HRC futures contract 3-month price remained essentially flat at $650.00 per short ton. The spot price of the US HRC futures contract held steady last Friday, remaining around $645.00 per short ton.