At $289.00 per metric ton, the cash price of steel billet moved up 3.2 percent on Jan. 11, 2013, making it the day’s biggest mover on the LME. 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 price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.93) and a low price of CNY 830.00 ($133.32) per dry metric ton. The price of Chinese HRC remained steady at CNY 4,130 ($663.39) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,650 ($265.03) per metric ton.
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.