Cash Price of Steel Billet Declines 3.1%

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On Jan. 15, 2013, the day’s biggest mover was the steel billet cash price, which saw a 3.1 percent decline on the LME to $285.00 per metric ton. After a 1.4 percent increase, the steel billet 3-month price finished the day on the LME at $300.00 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 ($134.98) and a low price of CNY 830.00 ($133.37) per dry metric ton. The price of Chinese HRC was unchanged at CNY 4,130 ($663.64) per metric ton. The price of Chinese coking coal held steady at CNY 1,720 ($276.38) per metric ton.

After two changeless days, the 3-month price of the US HRC futures contract fell 0.8 percent to $645.00 per short ton. The spot price of the US HRC futures contract has been on the decline for 7 days and is now at $635.00 per short ton.

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