3-Month Price of Steel Billet Rises 1.8%

On Jan. 17, 2013, the steel billet 3-month price experienced the biggest change, rising 1.8 percent on the LME to $290.00 per metric ton. The cash price of steel billet steadied at $280.00 per metric ton following two-days of dropping prices on the LME.

Chinese steel closed mixed on Thursday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.04) and a low price of CNY 830.00 ($133.43) per dry metric ton. The price of Chinese slab fell 0.3 percent to CNY 3,920 ($630.17) per metric ton. For the fifth consecutive day, the price of Chinese HRC held flat at CNY 4,130 ($663.93) per metric ton.

The US HRC futures contract 3-month price declined 0.8 percent to $645.00 per short ton. The US HRC futures contract spot price weakened by 0.3 percent, settling at $633.00 per short ton.

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