LME Steel Billet Cash Price Down 3.5% on the Day

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current steel prices - MetalMiner IndXThe cash price of steel billet saw a 3.5 percent drop on the LME on Jan. 30, 2013, landing at $260.00 per metric ton and making it the biggest mover of the day.

The 3-month price of steel billet weakened by 2.0 percent on the LME, settling at $265.00 per metric ton.

Chinese steel prices were mixed for the day. The prices of iron ore 58% fines from India looked slightly lower. Chinese slab prices rose 0.3 percent. The price of Chinese HRC remained steady.

The US HRC futures contract 3-month price saw a 0.3 percent decline to $648.00 per short ton. The US HRC futures contract spot price saw little price change on Wednesday at $624.00 per short ton.