Steel Billet 3-Month Price Up

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The 3-month price of steel billet saw the biggest upwards shift for the day, rising 3.5 percent on the LME to close at $295.00 per metric ton on Jan. 24, 2013. Also on the LME, the steel billet cash price inched up 1.1 percent to $285.00 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 ($134.99) and a low price of CNY 830.00 ($133.38) per dry metric ton. Chinese HRC saw little change in its price yesterday at CNY 4,140 ($665.32) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,790 ($287.66) per metric ton.

After three essentially changeless days, the US HRC futures contract spot price dropped 1.4 percent yesterday to $624.00 per short ton. The 3-month price of the US HRC futures contract rose by 0.9 percent to $651.00 per short ton.

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