Strengthening prices ended a three-day flat streak as the steel billet 3-month price moved up by 3.4 percent on Feb. 21, 2013 on the LME to $300.00 per metric ton. Thursday saw the cash price of steel billet drift down 2.1 percent on the LME to $259.50 per metric ton after a couple of stagnant days.
Chinese steel closed mixed yesterday. The prices of iron ore 58% fines from India inched up very slightly. The price of Chinese slab declined 0.2 percent. The price of Chinese HRC showed little movement on Thursday.
The 3-month price of the US HRC futures contract remained essentially flat at $640.00 per short ton. The spot price of the US HRC futures contract showed little movement yesterday, hovering around $611.00 per short ton.