Steel Billet 3-Month Price Climbs On the LME

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On Feb. 7, 2013, the day’s biggest mover was the 3-month price of steel billet, which saw a 5.6 percent increase on the LME to $285.00 per metric ton. Also on the LME, the cash price of steel billet rose 3.8 percent to $275.00 per metric ton.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.83) and a low price of CNY 830.00 ($133.22) per dry metric ton. The price of Chinese HRC showed little movement on Thursday at CNY 4,220 ($677.35) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,790 ($287.31) per metric ton.

The US HRC futures contract spot price moved on Thursday. After a few changeless days, prices dropped 0.8 percent to $628.00 per short ton. The 3-month price of the US HRC futures contract saw a 0.8 percent decline to $635.00 per short ton.