Steel Billet Cash Price Jump

The steel billet cash price saw the biggest increase at 3.2 percent on the LME, finishing at $289.00 per metric ton for Jan. 18, 2013. Also on the LME, the 3-month price of steel billet increased 0.3 percent to $291.00 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 ($135.06) and a low price of CNY 830.00 ($133.46) per dry metric ton. The price of Chinese HRC continues hovering around CNY 4,130 ($664.06) per metric ton for the fifth day in a row. The price of Chinese coking coal showed little movement last Friday at CNY 1,790 ($287.81) per metric ton.

The 3-month price of the US HRC futures contract rose 1.2 percent to $653.00 per short ton. The US HRC futures contract spot price saw little movement last Friday, closing out around $633.00 per short ton.

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