LME Billet Drops, China Steel Prices Ho-Hum on the Day

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The steel billet 3-month price saw the biggest decline of the day, dropping 1.8 percent on the LME to close at $270.00 per metric ton on Feb. 6, 2013.

The cash price of steel billet saw little price change on Wednesday on the LME at $265.00 per metric ton.

today's metal prices - MetalMiner IndXChinese steel prices were flat for the day. The price of iron ore 58% fines from India remained rangebound. Chinese HRC held its value on Wednesday, and the price of Chinese coking coal continues hovering in place for the fifth day in a row.

The US HRC futures contract 3-month price dropped by 0.8 percent to $640.00 per short ton after holding steady. The spot price of the US HRC futures contract has been on the rise for 8 days and is now at $633.00 per short ton.