Cash Price of Steel Billet Down

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On Jan. 28, 2013, the cash price of steel billet fell by 0.7 percent on the LME, landing at $280.00 per metric ton and making it the day’s biggest mover. The 3-month price of steel billet weakened by 0.7 percent on the LME, settling at $290.00 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 ($135.04) and a low price of CNY 830.00 ($133.43) per dry metric ton. After a 0.5 percent increase, the price of Chinese slab finished the day at CNY 3,930 ($631.78) per metric ton. The price of Chinese HRC showed little movement on Monday at CNY 4,140 ($665.54) per metric ton.

The 3-month price of the US HRC futures contract saw little price change yesterday at $651.00 per short ton. The spot price of the US HRC futures contract held steady around $624.00 per short ton.