Steel Billet Cash Price Improves 2.7%

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On Feb. 13, 2013, the day’s biggest mover was the steel billet cash price, which saw a 2.7 percent increase on the LME to $267.00 per metric ton. Also on the LME, the steel billet 3-month price inched up 1.8 percent to $285.00 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.76) and a low price of CNY 830.00 ($133.15) per dry metric ton. The price of Chinese HRC was unchanged at CNY 4,220 ($677.00) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,790 ($287.16) per metric ton for the fifth day in a row.

The 3-month price of the US HRC futures contract rose 0.3 percent to $637.00 per short ton. 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.