The cash price of steel billet experienced the biggest price decline of the day, dropping 3.7 percent on the LME to close at $260.00 per metric ton on Feb. 12, 2013. Also on the LME, the 3-month price of steel billet fell 1.8 percent to $280.00 per metric ton.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India remained rangebound. For the fifth day in a row, the price of Chinese HRC remained essentially flat. The price of Chinese coking coal saw essentially no change for the fifth day in a row.
The US HRC futures contract 3-month price saw a 0.8 percent decline to $635.00 per short ton. The US HRC futures contract spot price has been on the decline for 10 days and is now at $615.00 per short ton.