On Feb. 22, 2013, the day’s biggest mover was the 3-month price of steel billet, which saw a 6.7 percent decline on the LME to $280.00 per metric ton. The cash price of steel billet saw a 1.7 percent decline on the LME to $255.00 per metric ton.
Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India remained in a tight range. After holding steady for the past few days, the price of Chinese HRC fell 2.4 percent. Chinese slab prices saw a 0.5 percent decline.
For the fifth consecutive day, the 3-month price of the US HRC futures contract held flat at $640.00 per short ton. The spot price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $611.00 per short ton.
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