Cash Price of Steel Billet Down

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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 hit a high price of CNY 840.00 ($135.16) and a low price of CNY 830.00 ($133.55) per dry metric ton. After a 0.7 percent increase, the price of Chinese HRC finished the day at CNY 4,160 ($669.35) per metric ton. The price of Chinese coking coal remained steady at CNY 1,790 ($288.01) per metric ton.

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.

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