The cash price of steel billet experienced the biggest price decline of the day on MetalMiner’s daily steel price index, dropping 3.6 percent on the LME to close at $265.00 per metric ton on Feb. 18, 2013. The steel billet 3-month price remained essentially flat on the LME at $290.00 per metric ton.
Coking Coal Moves Down
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India failed to hit a high price of $135 per dry metric ton. However, after three straight days of no change, the price of Chinese coking coal decreased by 3.4 percent. On the tail end of a three-day flat streak, the price of Chinese slab rose by 2.3 percent.
The 3-month price of the US HRC futures contract showed little movement last Friday at $640.00 per short ton. The US HRC futures contract spot price flattened at $611.00 per short ton after two days of downward movement.