LME Steel Billet Cash Price Lower

The steel billet cash price experienced the biggest price decline of the day, dropping 0.7 percent on the LME to close at $280.00 per metric ton on Jan. 28, 2013.

Also on the LME, the 3-month price of steel billet declined 0.7 percent to $290.00 per metric ton.

Chinese steel prices were mixed for the day. The high price of iron ore 58% fines from India remained above $135 per dry metric ton. The price of Chinese slab gained 0.5 percent. The price of Chinese HRC held steady.

The 3-month price of the US HRC futures contract saw little movement on Monday at $651.00 per short ton. The US HRC futures contract spot price showed little movement yesterday at $624.00 per short ton.