Cash Price of LME Steel Billet Down on Daily Index

The cash price of steel billet experienced the biggest price decline of the day, dropping 1.4 percent on the LME to close at $285.00 per metric ton on Jan. 21, 2013. Also on the LME, the steel billet 3-month price rose 1.4 percent to $295.00 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India remained rangebound. After a 0.7 percent increase, the price of Chinese HRC finished the day up. The price of Chinese coking coal remained steady.

The US HRC futures contract 3-month price saw a 1.2 percent decline to $645.00 per short ton. The US HRC futures contract spot price saw little movement last Friday, closing out around $633.00 per short ton.