Steel Billet Cash Price Rise

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The cash price of steel billet saw the biggest upwards shift for the day, rising 4.9 percent on the LME to close at $280.00 per metric ton on Feb. 14, 2013. The 3-month price of steel billet jumped 3.5 percent on the LME to finish at $295.00 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 ($134.75) and a low price of CNY 830.00 ($133.15) per dry metric ton. The price of Chinese HRC saw little movement at CNY 4,220 ($676.96) per metric ton. The price of Chinese coking coal held steady at CNY 1,790 ($287.15) per metric ton.

Following a quiet couple of days, the US HRC futures contract spot price fell 0.5 percent on Thursday to $612.00 per short ton. The US HRC futures contract 3-month price saw little movement yesterday at $637.00 per short ton.