Steel Billet Cash Price Sees Small Jump

by on
Members Only, Metal Prices, Premium

 On Feb. 1, 2013, the steel billet cash price experienced the biggest change, rising 1.9 percent on the LME to $270.00 per metric ton. The 3-month price of steel billet held steady last Friday on the LME, remaining around $275.00 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 ($135.07) and a low price of CNY 830.00 ($133.47) per dry metric ton. The price of Chinese HRC moved up 1.0 percent, landing at CNY 4,220 ($678.59) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,790 ($287.84) per metric ton.

The spot price of the US HRC futures contract rose by 1.4 percent to $633.00 per short ton after a three-day flat streak. The US HRC futures contract 3-month price saw a 0.5 percent decline to $645.00 per short ton.