On Feb. 11, 2013, the 3-month price of steel billet experienced the biggest change, rising 5.6 percent on the LME to $285.00 per metric ton. The steel billet cash price experienced a big shift on Monday, gaining 3.8 percent on the LME to finish at $270.00 per metric ton.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India remained rangebound. For the fifth consecutive day, the price of Chinese HRC held flat. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.
The spot price of the US HRC futures contract has been on the decline for 10 days and is now at $615.00 per short ton. The US HRC futures contract 3-month price is back up, rising by 1.6 percent yesterday to close at $640.00 per short ton.